NOON SNAPSHOT Asia Markets Summary

10 September 2013 05:00  [Source: ICIS news]

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

CRUDE: Oct WTI $108.37/bbl, down $1.15/bbl; Oct BRENT $112.74/bbl, down 98 cents/bbl
Crude futures weakened in Asian morning trade as concerns over a US military strike on Syria eased, following a proposal by Russia to place Syria chemical weapons under international control.

NAPHTHA: $951.50-954.50/tonne CFR Japan, down $19.50/tonne
Open-spec second-half October prices weakened substantially following falls in crude oil and easing supply worries.

BENZENE: $1,313-1,315/tonne FOB Korea, down $5-14/tonne
November offers declined over the morning session to $1,315/tonne FOB Korea from $1,320/tonne FOB Korea, undermined by softer crude futures, while bids hovered at $1,310-1,313/tonne FOB Korea. A November deal was closed at $1,315/tonne FOB Korea.

TOLUENE: $1,157-1,175/tonne FOB Korea, down $5-8/tonne
Prices were weighed down by lower crude futures and weaker China domestic market. November offers were at $1,175/tonne FOB Korea, while bids were at $1,160-1,162/tonne FOB Korea. For December loading, offers were at $1,180/tonne FOB Korea, countered by bids at $1,162/tonne FOB Korea.

ETHYLENE: $1,260-1,280/tonne CFR NE Asia, steady
No fresh deals were heard while a buy-sell gap hampered trade. Selling indications at around $1,300/tonne CFR NE Asia generally failed to attract interest.

PROPYLENE: $1,470-1,490/tonne CFR NE Asia, up $5/tonne at the low end
Bids from traders and Chinese end-users increased to $1,470-1,475/tonne CFR CMP for October shipments, against offers at $1,485/tonne CFR CMP or higher.

By: Staff Reporter
+44 20 8652 3214

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