NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $88.70/bbl, down 49 cents/bbl; June BRENT $99.89/bbl, down 50 cents/bbl
Crude futures softened in Asian morning trade following release of downbeat manufacturing data from China. HSBC’s flash April PMI for China declined 1.1 points to 50.5 from March.

NAPHTHA: $841.00-844.00/tonne CFR Japan, up $5.50-6.50/tonne
Open-spec first-half June contract rose in morning trading, as Brent crude continued to trade near $100/bbl despite pulling back from overnight gains.

BENZENE: $1,310-1,320/tonne FOB Korea, stable
Offers for July cargoes slipped in the morning session to $1,310/tonne FOB Korea by mid-day from $1,315/tonne FOB Korea, while counterbids hovered at $1,305/tonne FOB Korea. For June cargoes, offers likewise declined to $1,320/tonne FOB Korea from $1,330/tonne FOB Korea, with bids at $1,310/tonne FOB Korea.

TOLUENE: $1,135-1,160/tonne FOB Korea, up $10-15/tonne
Market was thinly traded in the morning session, with two traders bidding for June parcels at $1,148/tonne FOB Korea, while offers are at $1,160-1,165/tonne FOB Korea. For July lots, a bid was quoted at $1,155/tonne FOB Korea, amid no selling interest.         

ETHYLENE: $1,200-1,240/tonne CFR NE Asia, steady
No fresh deals were heard as most buyers have covered their requirements. Sporadic selling ideas were heard at below $1,250/tonne CFR NE Asia but there were no details.

PROPYLENE: $1,260-1,290/tonne CFR NE Asia, stable
Two deals were heard done at $1,280-1,290/tonne CFR China for arrival in the middle- to the second-half of May.

By: Staff Reporter
+44 20 8652 3214

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