EVENING SNAPSHOT Asia Markets Summary

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

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

CRUDE: Aug WTI $95.87/bbl, up 37 cents/bbl; Aug BRENT $102.25/bbl, up 59 cents/bbl
Crude futures firmed in Asian afternoon trade as fears of a scaling down in the US stimulus programme this year eased following a weaker-than-expected US first-quarter growth data.

NAPHTHA: $854.50-856.50/tonne CFR Japan, down $2.75-3.75/tonne
Open-spec first-half August prices fell in afternoon trading, shrugging off gains in global crude futures because of weakening downstream butadiene prices.

BENZENE: $1,180-1,190/tonne FOB Korea, up $5/tonne at the low end
Prices were off lows in the afternoon session. A September fixture was heard done at $1,285/tonne FOB Korea, while a  second-half July deal was finalised at $1,180/tonne FOB Korea.

TOLUENE: $1,025-1,040/tonne FOB Korea, up $8-18/tonne
Prices rebounded in the afternoon, with August-loading cargoes offered at $1,040/tonne FOB Korea meeting bids at $1,025-1,035/tonne FOB Korea. Offers for September-loading parcels were at $1,033-1,040/tonne FOB Korea against bids at $1,020-1,036/tonne FOB Korea.

ETHYLENE: $1,250-1,280/tonne CFR NE Asia, stable
Two 3,000- to 3,500-tonne regional spot cargoes were heard sold within the $1,210-1,230/tonne FOB Korea range, for loading in early July and second-half July, respectively.

PROPYLENE: $1,420-1,435/tonne CFR NE Asia, steady
Selling ideas at above $1,430/tonne CFR NE Asia failed to attract interest as prevailing high propylene prices have taken a toll on derivative markets, particularly, the polypropylene (PP) sector.

By: Staff Reporter
+44 20 8652 3214

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