EVENING SNAPSHOT - Asia Markets Summary

18 June 2013 11:00  [Source: ICIS news]

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

CRUDE: July WTI $97.45/bbl, down 32 cents/bbl; Aug BRENT $105.18/bbl, down 29 cents/bbl
Crude futures softened in afternoon trade, ahead of a US Federal Reserve meeting amid uncertainty over the future of its monetary stimulus programme.

NAPHTHA: $871.50-873.50/tonne CFR Japan, down $8-9/tonne
Open-spec first-half August prices skidded in afternoon trading amid a supply glut. The second-half August/first-half September spread traded at a backwardation of $2.50/tonne, while the second-half August contract was done at $869.50/tonne and at $870/tonne.

BENZENE: $1,280-1,290/tonne FOB Korea, stable
Buying indications for September parcels were cited at $1,275/tonne FOB Korea against selling indications at around $1,280/tonne FOB Korea. A deal was concluded at $1,275/tonne FOB Korea, any September shipment.

TOLUENE: $1,095-1,110/tonne FOB Korea, down $7/tonne at the high end
First-half August-loading cargoes were offered at $1,110/tonne FOB Korea and August-loading lots were offered at $1,115/tonne FOB Korea against bids at $1,105/tonne FOB Korea. Bids for second-half July were at $1,090-1,092/tonne FOB Korea.

ETHYLENE: $1,220-1,250/tonne CFR NE Asia, up $20/tonne
Offers rose to $1,250/tonne CFR NE Asia and above owing to firmer costs of securing spot lots. Sporadic buying indications were at $1,220/tonne CFR China for a 2,000 to 3,000 tonne any July arrival cargo.

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

By: Staff Reporter
+44 20 8652 3214

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