EVENING SNAPSHOT - Asia Markets Summary

09 April 2013 11:00  [Source: ICIS news]

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

CRUDE: May WTI $93.58/bbl, up 22 cents/bbl; May BRENT $105.08/bbl, up 42 cents/bbl
Crude futures continued to trade above the previous session’s close, buoyed by a reduction in China’s inflation rate that bolstered hopes that the world’s second largest consumer will not have to tighten its monetary policy.

NAPHTHA: $889-891/tonne CFR Japan, up $3-4/tonne
Open-spec second-half May contract rose in afternoon trading, supported by rising crude futures. Meanwhile, the first-half June contract was done at $881/tonne.

BENZENE: $1,305-1,315/tonne FOB Korea, up $5-7/tonne
Two June deals were concluded at $1,300-1,306/tonne FOB Korea, while two July lots were sealed at $1,300/tonne FOB Korea.

TOLUENE: $1,130-1,140/tonne FOB Korea, down $7-10/tonne
Offers for April loading fell to $1,140/tonne FOB Korea, but there were no counter bids by late afternoon. Offers for June cargoes were at $1,150/tonne FOB Korea, against bids at $1,140/tonne FOB Korea.

ETHYLENE: $1,280-1,310/tonne CFR NE Asia, stable
Some buying interest was noted for May cargoes in China, attracting offers at above $1,300/tonne CFR China from traders. Buying ideas were at $1,280-1,290/tonne CFR China. No deals were heard concluded.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, stable
Sporadic selling ideas were at above $1,350/tonne CFR NE Asia, while buying ideas were at the low-$1,300s/tonne CFR NE Asia.  A few deals for end April/early May shipment were done at $1,330-1,340/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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