EVENING SNAPSHOT - Asia Markets Summary

14 March 2013 10:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Thursday’s end-of-day Asia oil and chemical markets summary.

CRUDE: Apr WTI $92.75/bbl, up 23 cents; Apr BRENT $108.80/bbl, up 28 cents/bbl
Crude prices firmed in the afternoon trade ahead of the expiry of the April ICE Brent contract later on Thursday. Upside was limited by continued concerns over weak oil demand growth forecasts.

NAPHTHA: $944-946/tonne CFR Japan, up $5-6/tonne
Open-spec second-half April contract rebounded in afternoon trading, supported by mild gains in crude futures.

BENZENE: $1,300-1,310/tonne FOB Korea, down $2-3/tonne
Three May lots were sealed at $1,283-1,288/tonne FOB Korea in the afternoon session. Offers for second-half April loading were at $1,310/tonne FOB Korea.    

TOLUENE: $1,132-1,161/tonne FOB Korea, down $29-38/tonne
Prices fell on weak market sentiment. A deal for a second-half April-loading cargo was fixed at $1,132/tonne FOB Korea, while another deal was closed at $1,161/tonne FOB Korea for a May-loading lot. Meanwhile, offers for June-loading lots were at $1,170-1,175/tonne FOB Korea.

ETHYLENE: $1,250-1,270/tonne CFR NE Asia, down $40/tonne
Talk about a deal - possibly for prompt March arrival - done at below $1,250/tonne CFR Taiwan circulated in the market, but this could not be immediately confirmed.

PROPYLENE: $1,280-1,320/tonne CFR NE Asia, stable
A regional spot cargo was heard sold at $1,310/tonne CFR China for first-half April arrival. Buying ideas were mainly unchanged at below $1,300/tonne CFR NE Asia, while selling ideas were at least in the low-$1,300/tonne CFR NE Asia levels.


By: Staff Reporter
+44 20 8652 3214



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