EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $94.54/bbl, up 4 cents/bbl; June BRENT $103.76/bbl, down 5 cents/bbl
Crude futures recovered ground in the afternoon trade, supported by a softer US dollar. However, ICE Brent futures were still trading just below the previous session’s close. Prices were supported by expectations that the US Federal Reserve and the European Central Bank will continue with their monetary stimulus programmes.

NAPHTHA: $863-866/tonne CFR Japan, up 50 cents/tonne
Open-spec first-half June contract rose slightly in afternoon trading, supported by spot demand from Taiwan.

BENZENE: $1,302-1,310/tonne FOB Korea, down $5/tonne at the high end
A July lot was settled at $1,295/tonne FOB Korea close to the end of the trading day. Earlier in the day, a fixture was closed for an intermonth spread between June and July at a backwardation of $7/tonne on FOB Korea basis.

TOLUENE: $1,130-1,150/tonne FOB Korea, stable
Bids for July loading were at $1,145-1,148/tonne FOB Korea, but there were no takers. July is priced at a contango of $5-12/tonne to June.

ETHYLENE: $1,170-1,190/tonne CFR NE Asia, unchanged
Sporadic buying interest was heard from Taiwan for cargoes for second-half May arrival. An end-user was seeking a 2,300-tonne spot cargo at close to $1,150/tonne CFR NE Asia, while selling indications were at $1,170-1,180/tonne CFR NE Asia. Selling ideas for June shipments were at least $1,200/tonne CFR NE Asia.

PROPYLENE: $1,300-1,310/tonne CFR NE Asia, flat
Selling indications for June arrival were heard as high as $1,330-1,340/tonne CFR NE Asia but no bids emerged.


By: Staff Reporter
+44 20 8652 3214



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