EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $95.70/bbl, down 69 cent/bbl; June BRENT $103.90/bbl, down 57 cents/bbl
Crude futures weaker further in Asian afternoon trade, undermined by a strong US dollar, and recent downbeat economic data from China.

NAPHTHA: $875.50-877.50/tonne CFR Japan, up $3.00-4.00/tonne
Open-spec second-half June prices edged higher in afternoon trading as supplies were likely to fall amid refinery run cuts.

BENZENE: $1,293/tonne FOB Korea, down $7/tonne at the high end
A July lot was booked at $1,293/tonne FOB Korea, followed by an intermonth spread between June and July settled at a backwardation of $1/tonne on an FOB Korea basis.

TOLUENE: $1,140-1,150/tonne FOB Korea, down $5-10/tonne
A June cargo was sealed at $1,150/tonne FOB Korea in the afternoon session. For July lots, offers were at $1,165/tonne FOB Korea, which were countered with bids at $1,157/tonne FOB Korea.

ETHYLENE: $1,160-1,180/tonne CFR NE Asia, stable
No fresh deals were heard, while buying interest remained at the mid- to high-$1,100s/tonne CFR NE Asia levels for second-half May/first-half June arrival.

PROPYLENE: $1,320-1,330/tonne CFR NE Asia, steady
A buy-sell gap hampered trade as buyers were not keen to purchase propylene at above $1,330/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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