EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $95.61/bbl, down 1 cent/bbl; June BRENT $104.22/bbl, down 18 cents/bbl
Crude futures softened in Asian afternoon trade,  Crude lost ground the previous session as news of increased crude imports into China in April failed to fully offset worries over oil demand growth in 2013.  Demand concerns heightened after the US Energy Information Administration (EIA) cut its forecast for oil demand growth this year.

NAPHTHA: $867-869/tonne CFR Japan, up $11.50-12.50/tonne
Open-spec second-half June prices rose in afternoon trading, supported by a cash trade at $863/tonne for delivery in the first half of July.

BENZENE: $1,293-1,300/tonne FOB Korea, up $5/tonne at the high end
A South Korean maker booked a July lot at $1,295/tonne FOB Korea towards late afternoon. Prior to the deal, discussions for July loading were at $1,290-1,295/tonne FOB Korea.An offer for June parcel was subsequently quoted at $1,300/tonne FOB Korea, but there were no takers.

TOLUENE: $1,140-1,155/tonne FOB Korea, stable
Discussions stayed limited in the afternoon session amid the absence of sellers. A bid quoted for July loading at $1,150/tonne FOB Korea.

ETHYLENE: $1,160-1,180/tonne CFR NE Asia, up $10/tonne
Buying ideas for a 3,000-tonne cargo for arrival in the second-half of May surfaced at $1,170/tonne CFR China versus selling indications at $1,180-1,200/tonne CFR NE Asia. No deals were heard.

PROPYLENE: $1,320-1,330/tonne CFR NE Asia, up $10/tonne at the low end
Selling ideas were heard at $1,330-1,340/tonne CFR NE Asia against buying ideas at the low-$1,300 levels to $1,320/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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