EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI Apr $92.50/bbl, up 34 cents/bbl; BRENT May $107.90/bbl, up 45 cents/bbl
Crude prices rose in the afternoon session amid continued worries over Cyprus’ decision to vote against a proposed levy on bank deposits as part of the deal for an European bailout.

NAPHTHA: $919-922/tonne CFR Japan, up $10.50/tonne
Open-spec first-half May contract rebounded, in tandem with rising crude futures.

BENZENE: $1,245-1,260/tonne FOB Korea, up $5/tonne at low end        
Two May cargoes were sold at $1,250/tonne FOB Korea in the afternoon session. Bids for May cargoes were at $1,245-1,250/tonne FOB Korea, against offers at $1,260/tonne FOB Korea.          

TOLUENE: $1,100-1,115/tonne FOB Korea, up $15-20/tonne       
The market rebounded in the afternoon session, after two May parcels were booked at $1,110-1,115/tonne FOB Korea at close to the end of the trading day.      

ETHYLENE: $1,240-1,260/tonne CFR NE Asia, stable
No CFR deals were heard done, but talks to sell a spot cargo from Taiwan loading in the first half of April were under way at $1,280-1,300/tonne FOB NE Asia, market sources said.

PROPYLENE: $1,300-1,330/tonne CFR NE Asia, up $10/tonne at low end
A propylene spot cargo was heard sold at $1,310/tonne CFR China for second-half April arrival, market sources said. Selling ideas for cargoes arriving during this period were heard at $1,330-1,350/tonne CFR NE Asia against buying ideas at the low-$1,300s/tonne CFR NE Asia, they added.


By: Staff Reporter
+44 20 8652 3214



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