NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI May $93.91/bbl, down 29 cents/bbl; BRENT May $106.32/bbl, up 9 cents/bbl
Brent crude futures edged higher, supported by a weaker US dollar and reduced inflationary pressure in China. However, WTI crude edged lower, following a larger-than-expected build in US crude stocks.

NAPHTHA: $896-899/tonne CFR Japan, up $7-8/tonne
Open-spec second-half May contract rose in morning trading, underpinned by overnight gains in crude futures.

BENZENE: $1,315-1,325/tonne, FOB Korea, up $10/tonne
Two deals for June cargoes were done at $1,320-1,326 FOB Korea. Bids for May parcels were at $1,308-1,315 FOB Korea. Offers for June lots at $1,330 FOB Korea, against bids at $1320-1326 FOB Korea

TOLUENE: $1,150-1,155/tonne FOB Korea, up $15-20/tonne
A deal was closed at $1,160 FOB Korea for June loading. Offers were at $1,153 FOB Korea for May parcels. Subsequently, offers were at $1,170 FOB Korea against bids at $1,160 FOB Korea for June parcels

ETHYLENE: $1,260-1,300/tonne CFR NE Asia, down $10-20/tonne
Bids for May shipments softened to $1,200-1,260/tonne CFR China versus offers at $1,280-1,310/tonne CFR NE Asia.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, stable
Selling ideas were heard at above $1,350/tonne CFR NE Asia, while buying ideas were at the low-$1,300s/tonne CFR NE Asia.  A deal for end-April/early May shipment was done at $1,342/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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