EVENING SNAPSHOT Asia Markets Summary

15 July 2013 11:00  [Source: ICIS news]

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

CRUDE: Aug WTI $105.42/bbl down 53 cents/bbl; Aug BRENT $108.58/bbl, down 23 cents/bbl
Crude futures softened in the afternoon trade amid continued concerns over the  Chinese economy despite a recovery in oil demand from the world’s second largest oil consumer.`

NAPHTHA: $918.50-920.50/tonne CFR Japan, down $1-2/tonne
Open-spec second-half August prices pulled back from earlier gains, after a deal was traded at $915.00/tonne for the first-half September contract.

BENZENE: $1,225-1,235/tonne FOB Korea, down $5/tonne
Discussions were limited, with offers slipping to $1,230/tonne FOB Korea from $1,240/tonne FOB Korea for September loading. Bids were countered at $1,223-1,225/tonne FOB Korea.

TOLUENE: $1,105-1,107/tonne FOB Korea, down $3/tonne at the high end
A South Korean producer sold a September parcel towards the end of the trading day. Bids for October loading were at $1,100-1,108/tonne FOB Korea.

ETHYLENE: $1,260-1,300/tonne CFR NE Asia, steady
Some end-users were already covered for August, while other importers are uninterested in selling indications at or above $1,300/tonne CFR NE Asia amid concerns over the outlook for key derivatives like polyethylene.

PROPYLENE: $1,390-1,410/tonne CFR NE Asia, stable
Buying ideas were heard at $1,370-1,400/tonne CFR NE Asia, while talk of product being available for sale at below $1,400/tonne CFR NE Asia for first-half August arrival could not be immediately confirmed.

By: Staff Reporter
+44 20 8652 3214

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