EVENING SNAPSHOT - Asia Markets Summary

07 May 2013 11:00  [Source: ICIS news]

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

CRUDE: June WTI $95.58/bbl, down 58 cents/bbl; June BRENT $105.00/bbl, down 46 cents/bbl
Crude futures were trading below the previous session close on Tuesday afternoon amid profit taking following the recent hike in prices.

NAPHTHA: $861-863/tonne CFR Japan, up $2-3/tonne
Open-spec second-half June prices edged higher in afternoon trading, following a cash trade of $857/tonne for delivery in the first half of July. The first-half July/second-half July spread was done at a backwardation of $5.75/tonne.

BENZENE: $1,293-1,295/tonne FOB Korea, down $5-10/tonne
Two July cargoes were bought from a South Korean maker at $1,290/tonne FOB Korea. July is priced at a backwardation of $3-5/tonne on an FOB Korea basis.

TOLUENE: $1,140-1,155/tonne, down $3/tonne at the high end
Offers for June cargoes were at $1,155/tonne FOB Korea against bids at $1,140/tonne FOB Korea. For July loading, bids were at $1,152/tonne FOB Korea with no counter offer.

ETHYLENE: $1,170-1,190/tonne CFR NE Asia, stable
Bids for cargoes arriving end-May/early June arrival cargoes were capped at $1,150-1,170/tonne CFR Taiwan/China versus selling indications at $1,180-1,200/tonne CFR Taiwan/China. No deals were heard concluded.

PROPYLENE: $1,310-1,330/tonne CFR NE Asia, unchanged
Sporadic selling ideas were heard at $1,330-1,340/tonne CFR NE Asia against buying ideas at the low-$1,300 levels to 1,310/tonne CFR NE Asia. A regional producer was heard to have sold a cargo at $1,328/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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