NOON SNAPSHOT - Asia Markets Summary

14 May 2013 05:00  [Source: ICIS news]

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

CRUDE: June WTI $95.37/bbl,  up 20 cents/bbl; June BRENT $102.88/bbl, up 6 cents/bbl
Crude futures edged higher in Asian morning trade, regaining some of the ground lost in the previous session. Crude values fell on Monday, undermined by a stronger US dollar and downbeat economic data from China and the US.

NAPHTHA: $868.50-871.50/tonne CFR Japan, down $1.50-2.50/tonne
Open-spec second-half June prices weakened in morning trading on overnight losses in crude futures.

BENZENE: $1,290-1,297/tonne FOB Korea, up $2-5/tonne
For July loading, offers fell over the morning session from $1,305/tonne FOB Korea to $1,297-1,299/tonne FOB Korea, while bids stood at $1,287-1,290/tonne FOB Korea. A bid for second-half June cargo was previously quoted at $1,295/tonne FOB Korea, with an offer emerging close to midday at $1,297-1,300/tonne FOB Korea.

TOLUENE: $1,140-1,155/tonne FOB Korea, up $5/tonne at the high end
Offer-bid levels for July parcels narrowed over the morning session from $1,145-1,165/tonne FOB Korea to $1,155-1,163/tonne FOB Korea. For second-half June parcels, offers were at $1,155/tonne FOB Korea, against bids at $1,145/tonne FOB Korea.

PROPYLENE: $1,320-1,330/tonne CFR NE Asia, stable
Selling indications were mainly stable at around $1,330-1,350/tonne CFR NE Asia for June arrival, while some end-users kept their buying ideas at the low-$1,300/tonne CFR NE Asia levels.

ETHYLENE: $1,160-1,180/tonne CFR NE Asia, steady
No CFR NE Asia deals were heard, while a regional Japanese producer is now targeting to sell its remaining June shipments at $1,120-1,130/tonne FOB NE Asia, following recent sale of a 3,000-tonne cargo at $1,100/tonne FOB NE Asia during the weekend of 11-12 May.

By: Staff Reporter
+44 20 8652 3214

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