NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: May WTI $94.48/bbl, up 3 cents/bbl; May BRENT $107.54/bbl, up 43 cents/bbl
Crude futures edged higher in the morning trade following sharp falls in the previous session that were triggered by a larger than expected build in US crude stocks and weak US jobs data.

NAPHTHA: $888-891/tonne CFR Japan, down $22-23/tonne
Open-spec second-half May contract fell in morning trading, sparked by overnight crude losses.

BENZENE: $1,300-1,310/tonne FOB Korea, down $10/tonne
Offers for May cargoes were at $1,305-1,310/tonne FOB Korea, against bids at $1,300/tonne FOB Korea. For June lots, offers were at $1,295-1,300/tonne FOB Korea that were countered with bids at $1,285-1,290/tonne FOB Korea.

TOLUENE: $1,120-1,125/tonne FOB Korea, stable
A 3,000-tonne lot was offered at $1,125-1,135/tonne FOB Korea for second-half April loading, but there were no buyers. Offers for May and June parcels were at $1,140/tonne FOB Korea. A bid for May cargo were at $1,120/tonne FOB Korea.

ETHYLENE: $1,280-1,310/tonne CFR NE Asia, stable
No CFR NE Asia trades were located, but a 3,000- to 3,500-tonne spot cargo of southeast Asia origin was heard available for sale at below $1,300/tonne CFR SE Asia for second-half April arrival. This could not be immediately confirmed.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, steady
Market players in China and Taiwan were away on holiday and discussions thus took a backseat. On a FOB Korea basis, selling ideas for May shipments were unchanged at above $1,300/tonne.

By: Staff Reporter
+44 20 8652 3214

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