EVENING SNAPSHOT Asia Markets Summary

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

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

CRUDE: Sept WTI $104.66/bbl, down 73 cents/bbl; Sept BRENT $106.68/bbl, down 51 cents/bbl
Crude futures declined on Thursday afternoon, amid a firmer US dollar and concerns over the slowdown in the Chinese economy following the release of weak manufacturing data.

NAPHTHA: $893.00-895.00/tonne CFR Japan, up $0.50-$1.50/tonne
Open-spec first-half September prices pared losses marginally in the afternoon, but still weaker compared with levels a day ago as crude futures continued to fall.

BENZENE: $1,240-1,245/tonne FOB Korea, down $5/tonne
Bids for September loading were at $1,235-1,238/tonne FOB Korea, with no counter offer. Offers for October loading were at $1,236-1,246/tonne FOB Korea against bids at $1,235-1,243/tonne FOB Korea.

TOLUENE: $1,127-1,135/tonne FOB Korea, down $3-10/tonne
Offers for September loading were at $1,140/tonne FOB Korea, against bid at $1,130-1,132/tonne FOB Korea. For October loading, offers were at $1,135-1,138/tonne FOB Korea against bids at $1,130-1,132/tonne FOB Korea.

ETHYLENE: $1,230-1,250/tonne CFR NE Asia, up $20/tonne at the low end
There was talk of a 3,000-4,000 tonne spot cargo of southeast Asia origin available for sale into China at $1,260-1,270/tonne CFR NE Asia for first-half August arrival, while sporadic buying interest was capped at $1,250/tonne CFR NE Asia. Buying indications in Taiwan, however, remained low at around $1,200/tonne CFR NE Asia.

PROPYLENE: $1,390-1,400/tonne CFR NE Asia, up $5/tonne at the low end
Bids for end-August and first-half September arrival shipments to China were heard at up to $1,390-1,400/tonne CFR China. Offers were limited as several sellers have taken some bookings earlier in the week and they preferred to wait for prices to increase further before making new offers. Selling ideas were at $1,395-1,400/tonne CFR China or higher for first-half September shipments.

By: Staff Reporter
+44 20 8652 3214

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