NOON SNAPSHOT - Asia Markets Summary

19 March 2013 04:00  [Source: ICIS news]

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

CRUDE: WTI Apr $93.78/bbl, up 4 cents/bbl; BRENT May $109.35/bbl, down 16 cents/bbl
Crude prices were mostly range-bound on Tuesday morning in Asia. Upbeat US economic data from the US was offset by continued eurozone worries ahead of a vote in Cyprus on plans to impose a levy on bank accounts.

NAPHTHA: $930-933/tonne CFR Japan, up $4.50-5.50/tonne
Open-spec first-half May contract rose in morning trading, rebounding from losses in the previous session as the market assessed the impact of cracker run cuts from a couple of northeast Asian petrochemical producers.

BENZENE: $1,230-1,246/tonne FOB Korea, down $36-38/tonne
Offers for May cargoes were at $1,272-1,275/tonne FOB Korea, against bids at $1,265-1,267/tonne FOB Korea. For June lots, offers were at $1,255-1,260/tonne FOB Korea. These offers were countered with bids at $1,250/tonne FOB Korea.

TOLUENE: $1,101-1,125/tonne FOB KOREA, down $13-21/tonne
Offers for May loading at $1,125/tonne FOB Korea were countered with bids at $1,111/tonne FOB Korea. For June lots, offers were at $1,125-1,130/tonne FOB Korea, against bids at $1,111-1,115/tonne FOB Korea.

ETHYLENE: $1,240-1,260/tonne CFR NE Asia, stable
Sporadic buying interest was heard at below $1,200/tonne CFR NE Asia but no offers emerged on Tuesday morning.

PROPYLENE: $1,260-1,320/tonne CFR NE Asia, stable
Selling ideas were at least around $1,330/tonne CFR NE Asia for second-half April arrival but buyers were sidelined and no deals were heard done.

By: Staff Reporter
+44 20 8652 3214

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