EVENING SNAPSHOT Asia Markets Summary

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

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

CRUDE: Sept WTI $103.92/bbl, down 63 cents/bbl; Sept BRENT $107.18/bbl, down 27 cents/bbl
Crude futures continued to trade below the previous session’s close. Prices were under downward pressure from a stronger US dollar and demand worries. Traders also awaited a Federal Reserve meeting scheduled to start later on Tuesday.

NAPHTHA: $896.50-899.50/tonne CFR Japan, down $1.75/tonne
Open-spec first-half September prices weakened in tandem with crude futures.

BENZENE: $1,226-1,230/tonne FOB Korea, up $2/tonne at the high end
Two October lots were closed at $1,223/tonne FOB Korea during open market trading. October was subsequently discussed in the range of $1,220-1,224/tonne FOB Korea. Towards the close of trade, offers were at $1,232-1,233/tonne FOB Korea, against bids at $1,221-1,225/tonne FOB Korea.

TOLUENE: $1,120-1,130/tonne FOB Korea, stable
October cargoes were discussed at $1,125-1,135/tonne FOB Korea, while bids for September loading rose to $1,127/tonne FOB Korea from $1,125/tonne FOB Korea, with no counter offers.

ETHYLENE: $1,230-1,250/tonne CFR NE Asia, stable
The bulk of bids were heard at up to $1,230/tonne CFR NE Asia, versus offers at up to $1,270/tonne CFR NE Asia. Trading, however, was subdued with buyers opting to stay on the sidelines.

PROPYLENE: $1,390-1,405/tonne CFR NE Asia, up $5/tonne at the high end
A Japanese producer sold a 1,500-tonne shipment for first-half September arrival at $1,405/tonne CFR China Main Port (CMP).

By: Staff Reporter
+44 20 8652 3214

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