Corrected: EVENING SNAPSHOT Asia Markets Summary

12 August 2013 11:00  [Source: ICIS news]

Correction: In the ICIS story headlined "EVENING SNAPSHOT  Asia Markets Summary" dated 12 August 2013, please read in the fifth paragraph "... TOULENE: $1,120-1,132/tonne…” instead of “…TOLUENE: $1,120-1,232/tonne…” A corrected story follows.

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

CRUDE: Sept WTI $106.07/bbl, up 10 cents/bbl; Sept BRENT $107.98/bbl, down 24 cents/bbl
Brent crude futures continued to trade below the previous session’s close amid a stronger US dollar. US crude maintained some upside ahead of the release of key US economic data later this week.

NAPHTHA: $909.25-911.25/tonne CFR Japan, up $8.75-9.75/tonne
Prices rose in afternoon trading following the cash deals – the second-half contract and the first-half October contract done at $908/tonne.

BENZENE: $1,233-1,238/tonne FOB Korea, down $2-5/tonne
Three swap deals between second-half September and October were concluded at a backwardation of $1-3/tonne. A second October deal was closed at $1,235/tonne FOB Korea.

TOLUENE: $1,120-1,132/tonne FOB Korea, down $3/tonne at the high end
Bids for October loading regained ground to $1,135/tonne FOB Korea by 09:30 GMT, following lower levels at $1,130-1,132/tonne FOB Korea in early afternoon. Offers at $1,135/tonne FOB Korea quoted earlier were subsequently withdrawn.

ETHYLENE: $1,220-1,250/tonne CFR NE Asia, stable
A buyer capped bids for September deliveries at below $1,225/tonne CFR NE Asia against firm selling indications at $1,250/tonne CFR NE Asia and above. No deals were heard.

PROPYLENE: $1,420-1,435/tonne CFR NE Asia, steady
Buying sentiment in northeast Asia has softened because of lower Chinese domestic prices and following news that Taiwan’s CPC is planning to start up its 720,000 tonne/year cracker this week. Buying ideas were capped at $1,410-1,420/tonne CFR NE Asia.

By: Staff Reporter
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