EVENING SNAPSHOT Asia Markets Summary

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

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

CRUDE: Sept WTI $107.19/bbl, down 4 cents/bbl; Sept BRENT $107.83/bbl, down 59 cents/bbl
Crude futures were trading below the previous session’s close amid worries over weak manufacturing data from China. Brent declined more than WTI as the US benchmark is supported by industry data, which revealed declines in US crude stocks and unexpected falls in gasoline and distillate inventories.

NAPHTHA: $900.50-902.50/tonne CFR Japan, down $5.00-6.00/tonne
Open-spec first-half September prices fell because of losses in crude futures.

BENZENE: $1,233-1,245/tonne FOB Korea, down $4/tonne at the low end, up $4/tonne at the high end
A wide offer-bid gap for October loading cargoes hampered trades, with offers hovering at $1,233-1,240/tonne FOB Korea. Bids were at $1,227-1,230/tonne FOB Korea.

TOLUENE: $1,125-1,137/tonne FOB Korea, up $5-7/tonne
Bids for September loading gained over the afternoon session to $1,137/tonne FOB Korea from $1,122/tonne FOB Korea. For October loading, offers were at $1,140/tonne FOB Korea, with bids at $1,128-1,132/tonne FOB Korea.

ETHYLENE: $1,210-1,250/tonne CFR NE Asia, stable
Buying interest from Taiwan remains capped at or below $1,200/tonne CFR NE Asia, while buyers in China sat on the sidelines as they were covered by term cargoes. No offers were heard.

PROPYLENE: $1,380-1,400/tonne CFR NE Asia, steady
A few bids were heard at $1,385-1,390/tonne CFR China for end-August and first-half September delivery cargoes, but most buyers have continued to cap their price ideas at $1,380/tonne CFR China. Sellers targeted prices at $1,395-1,410/tonne CFR China. In the FOB Korea market, a 1,500-tonne cargo for mid-September loading was booked at $1,320/tonne.


By: Staff Reporter
+44 20 8652 3214



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