NOON SNAPSHOT - Asia Markets Summary

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

SINGAPORE (ICIS)--Here is Friday’s midday Asia oil and chemical market summary from ICIS.

CRUDE: May WTI: $92.61/bbl, up 16 cents; May Brent: $107.42/bbl, down 5 cents
NYMEX WTI crude futures rebounded in early Asian trade on Friday after a sharp fall in the previous session amid continued worries over Cyprus’ economy.

NAPHTHA: $920-923/tonne CFR Japan, down $8.50-9.50/tonne
Open-spec first-half May contract fell in morning trading on the back of lower crude futures.

BENZENE: $1,270-1,280/tonne FOB Korea, down $5/tonne on high end
Offers for May loading were at $1,280/tonne FOB Korea amid an absence of buyers. For June lots, offers at $1,270/tonne FOB Korea that were countered with bids at $1,250/tonne FOB Korea.

TOLUENE: $1,100-1,115/tonne FOB Korea, down $10/tonne
Discussions were sporadic in the morning session, with bids at $1,100/tonne FOB Korea for May and $1,115/tonne FOB Korea for June parcels. Sellers were largely sidelined.

ETHYLENE: $1,250-1,280/tonne CFR NE Asia, up $10-20/tonne
Sporadic buying interest was heard at the mid-to-high-$1,200s/tonne CFR NE Asia for second-half April arrival from the leading China market but selling ideas ranged from the high-$1,200s/tonne to above $1,300/tonne CFR NE Asia.

PROPYLENE: $1,300-1,330/tonne CFR NE Asia, steady
Selling indications for second-half April arrival were unchanged at $1,340-1,350/tonne CFR NE Asia but interest was limited at such a level.

By: Staff Reporter
+44 20 8652 3214

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