EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: May WTI $87.92/bbl, down 80 cents/bbl; June BRENT $99.08/bbl, down 83 cents/bbl
Crude futures weakened  in the Asian afternoon trade, giving back earlier gains amid renewed worries over oil demand growth following weak economic data from the US and China.

NAPHTHA: $834.00-836.00/tonne CFR Japan, up $2.50-3.50/tonne
Open-spec first-half June contract bounced higher in afternoon trading, helped by a cash trade. The first-half June/first-half July spread was traded at $11/tonne in backwardation.

BENZENE: $1,290-1,300/tonne FOB Korea, down $5-10/tonne
Bids and offers for June parcels were cited at $1,295-1,305/tonne FOB Korea, but drifted lower to $1,285-1,295/tonne FOB Korea in the afternoon. A deal was heard concluded at $1,287/tonne FOB Korea for any June lifting.

TOLUENE: $1,110-1,115/tonne FOB Korea, down $13-20/tonne
Prices weakened on subdued buying interest in the afternoon session. Offers for second-half May shipment were at $1,115-1,125/tonne FOB Korea, with no counter bids. A bid for a June cargo was heard at $1,120/tonne FOB Korea.

ETHYLENE: $1,230-1,250/tonne CFR NE Asia, stable
No CFR NE Asia trades were heard, while a tender to buy 3,000-5,000 tonnes of ethylene for late/end-May arrival into southeast Asia is expected to close on 18 April.

PROPYLENE: $1,280-1,300/tonne CFR NE Asia, unchanged
A Japanese spot cargo was heard sold at $1,285/tonne CFR east China for second-half May lifting.

By: Staff Reporter
+44 20 8652 3214

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