EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI Aug $95.63/bbl, up 49 cents/bbl; BRENT Aug $102.85/bbl, up 70 cents/bbl
Crude futures strengthened on Friday afternoon, supported by bargain hunting activities after sharp falls in the previous session and renewed concerns over Syria. Nevertheless, worries remained over the Chinese economy and a possible winding down by the US Federal Reserve of its monetary stimulus programme.

NAPHTHA: $868.50-870.50/tonne CFR Japan, up $16-17/tonne
Open-spec first-half August prices rose in afternoon trading, almost recouping earlier crude-led losses as global crude futures subsequently rebounded.

BENZENE: $1,260-1,270/tonne FOB Korea, up $3-5/tonne
Several September benzene deals were concluded at $1,250-1,252/tonne FOB Korea in the morning. The market recouped some losses in the afternoon with September parcels talked at $1,255-1,260/tonne FOB Korea. A deal was subsequently concluded at $1,258/tonne FOB Korea, any September lifting.

TOLUENE: $1,070-1,080/tonne FOB Korea, stable
Bids and offers rose in the afternoon. Discussions were at $1,070-1,80/tonne FOB Korea, for August cargoes in the afternoon.  A second-half July deal was heard at around $1,075/tonne FOB Korea, but could not be confirmed by the close of business.

ETHYLENE: $1,250-1,280/tonne CFR NE Asia, stable
A deal was heard concluded at $1,250-1,260/tonne CFR China for a 3,000 to 3,500 tonne northeast Asia origin cargo for loading in early July.

PROPYLENE: $1,420-1,430/tonne CFR NE Asia, up by $10/tonne at the low end
Selling ideas for July/early August shipments were heard at $1,430/tonne CFR NE Asia and above against buying ideas at $1,410-1,420/tonne CFR NE Asia. Two first-half July shipments were heard done at $1,425/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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