NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: May WTI $93.60/bbl, up 24 cents/bbl; May BRENT $105.13/bbl, up 47 cents/bbl
Crude futures firmed in the morning trade, buoyed by the impact of Japan’s huge monetary stimulus programme.

NAPHTHA: $885-888/tonne CFR Japan, down $1-2/tonne
Open-spec second-half May contract was down in morning trading despite higher crude futures.

BENZENE: $1,300-1,308 FOB Korea, down $2-3/tonne
Bids for may cargoes were at $1,300/tonne FOB Korea, with offers at $1,325/tonne FOB Korea. For June lots, offers were at $1,308-1,315/tonne FOB Korea against bids at $1,295/tonne FOB Korea.

TOLUENE: $1,140-1,147/tonne FOB Korea, up $2/tonne at the high end
Offers for second-half April loading were at $1,147/tonne FOB Korea, but there were no bidders. For June cargoes, offers were at $1,160/tonne FOB Koream which were countered by bids at $1,140/tonne FOB Korea.

ETHYLENE: $1,280-1,310/tonne CFR NE Asia, stable
Discussions for second-half April arrival ethylene cargoes remained inconclusive, with offers at $1,270-1,280/tonne CFR NE Asia. Buyers are anticipating traders to lower offers on the back of weak downstream demand.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, steady
Selling ideas for May shipment were heard at $1,350-1,360/tonne CFR NE Asia, while buying ideas were at the low $1,300/tonne CFR NE Asia levels.

By: Staff Reporter
+44 20 8652 3214

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