NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI May $94.09/bbl, up 38 cents/bbl; BRENT May $108.04/bbl, up 38 cents/bbl
Crude prices firmed on Monday morning amid news that the eurozone’s finance ministers had agreed a €10bn ($13bn) bailout plan with Cyprus to avert the collapse of its banking system and prevent the island nation being forced out of the eurozone.

NAPHTHA: $927.50-930.50/tonne CFR Japan, up $7.50-8.50/tonne
Open-spec first-half May contract rose in morning trading, buoyed by higher crude futures.

BENZENE: $1,270-1,285/tonne FOB Korea, stable           
Offers were limited in the morning session. Bids for May and June parcels were at $1,270/tonne FOB Korea and $1,280/tonne FOB Korea respectively.         

TOLUENE: $1,090-1,100/tonne FOB Korea, down $10/tonne at low end 
Offers for May cargoes were at $1,115/tonne FOB Korea, against bids at $1,100/tonne FOB Korea. For June lots, offers were at $1,135/tonne FOB Korea that were countered with bids at $1,120/tonne FOB Korea.       

ETHYLENE: $1,260-1,290/tonne CFR NE Asia, stable
No fresh deals were heard done while market players stayed on the sidelines amid uncertainty over the market outlook. Sporadic buying interest remained unchanged at below $1,300/tonne CFR NE Asia.

PROPYLENE: $1,300-1,330/tonne CFR NE Asia, stable
Buying interest was capped at the low-$1,300s/tonne while offers have yet to emerge.

($1 = €0.77)

By: Staff Reporter
+44 20 8652 3214

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