NOON SNAPSHOT - Asia Markets Summary

03 April 2013 05:00  [Source: ICIS news]

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

CRUDE: May WTI $96.69/bbl, down 50 cents/bbl; May BRENT $110.33/bbl, down 36 cents/bbl
Crude futures softened in the morning trade, following a much larger than expected build in US crude stocks and a stronger US dollar.

NAPHTHA: $915.00-918.00/tonne CFR Japan, down $3.50-4.50/tonne
Open-spec second-half May contract fell in morning trading in tandem with global crude futures.

BENZENE: $1,300-1,310/tonne FOB Korea, up $15/tonne
June cargoes were offered at $1,300/tonne FOB Korea against sporadic bids at $1,285-1,290/tonne FOB Korea. For May parcels, bids were at $1,285-1,290/tonne FOB Korea, but there were no sellers. Towards midday, July lots were offered at $1,285/tonne FOB Korea, which were countered by bids at $1,270/tonne FOB Korea.

TOLUENE: $1,110-1,125/tonne FOB Korea, stable
Bids for June cargoes were at $1,125-1,130/tonne FOB Korea in the absence of sellers. July parcels were offered at $1,150/tonne FOB Korea, against bids at $1,133-1,137/tonne FOB Korea.

ETHYLENE: $1,280-1,300/tonne CFR NE Asia, steady
Buyers were mostly on the sidelines ahead of holidays in China and Taiwan from 4-5 April. No fresh deals were heard.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, unchanged
A regional spot cargo was heard sold at $1,355/tonne CFR China for first-half May arrival.

By: Staff Reporter
+44 20 8652 3214

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