NOON SNAPSHOT Asia Markets Summary

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

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

CRUDE: Aug WTI $94.59/bbl, down 73 cents/bbl; Aug BRENT $100.76/bbl, down 50 cents/bbl
Crude futures weakened on Wednesday morning as upbeat US economic data fuelled expectations that the US Federal Reserve may start to wind down its stimulus programme later this year.

NAPHTHA: $848.25-851.25/tonne CFR Japan, down $4-5/tonne
Open-spec first-half August prices slid in morning trading, on concerns over a deteriorating Chinese economy.

BENZENE: $1,215-1,230/tonne FOB Korea, down $15-20/tonne
Prices extended losses amid continued strain on the Chinese credit markets and plunging Shanghai Stock index. A September deal was heard done at $1,220/tonne FOB Korea, down some $15/tonne from the previous day.

TOLUENE: $1,035-1,053/tonne FOB Korea, unchanged
August-loading cargoes were offered at $1,055/tonne FOB Korea against bids at $1,040/tonne FOB Korea, whereas September-lifting parcels were also offered at $1,055/tonne FOB Korea.

ETHYLENE: $1,250-1,280/tonne CFR NE Asia, stable
No fresh deals were heard while buying ideas ranged from below $1,250/tonne to the high-$1,200s/tonne CFR NE Asia.

PROPYLENE: $1,420-1,435/tonne CFR NE Asia, steady
A regional producer in talks to sell August loading parcels pegged selling ideas at $1,360/tonne FOB Korea. It had received a bid at $1,350/tonne FOB Korea but this could not be immediately confirmed.

By: Staff Reporter
+44 20 8652 3214

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