NOON SNAPSHOT - Asia Markets Summary

18 June 2013 05:00  [Source: ICIS news]

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

CRUDE: July WTI $97.78/bbl, up 1 cent/bbl; Aug BRENT $105.52/bbl up 5 cents/bbl
Crude futures edged higher in the morning trade, amid continued unrest in Syria and ahead of a US Federal Reserve meeting.

NAPHTHA: $879.50-882.50/tonne CFR Japan, down $4.00-5.00/tonne
Open-spec first-half August prices slipped because of overnight losses in crude futures.

BENZENE: $1,280-1,290/tonne FOB Korea, up $5/tonne
Buying indications for September parcels increased to $1,275/tonne FOB Korea. Selling indications were heard at around $1,285/tonne FOB Korea. However, discussions were limited for August and July cargoes.

TOLUENE: $1,095-1,117/tonne FOB Korea, up $13-14/tonne
Prices were notionally higher at the low end, reflecting a contango of around $12/tonne between July and August-loading cargoes. Second half July-loading cargoes were offered at $1,105/tonne FOB Korea, while August-lifting lots were offered at $1,117-1,120/tonne FOB Korea against bids at $1,107/tonne FOB Korea.

ETHYLENE: $1,200-1,230/tonne CFR NE Asia, stable
A deal for a 3,000-tonne regional origin cargo was heard concluded on formula basis for second-half July arrival into China. Majority of buyers capped bids at around $1,200/tonne CFR NE Asia.

PROPYLENE: $1,380-1,400/tonne CFR NE Asia, up $10/tonne at the high end
Selling ideas for July shipment were heard at $1,400/tonne CFR NE Asia or above, against buying ideas at the high $1,300s/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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