NOON SNAPSHOT Asia Markets Summary

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

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

CRUDE: Nov WTI $104.72/bbl, down 3 cents/bbl; Nov BRENT $109.15/bbl, down 7 cents/bbl
Crude futures were rangebound in Asian morning trade, supported by an upbeat September HSBC manufacturing flash purchasing managers’ index (PMI) for China.

NAPHTHA: $934.00-937.00/tonne CFR Japan, up $1.50-2.50/tonne
Open-spec first-half November prices edged higher on relatively stable crude futures.

BENZENE: $1,293-1,300/tonne FOB Korea, stable
Discussions were thin in the morning session. Offers for November-loading cargoes were at $1,300/tonne FOB Korea, while bids for December-lifting lots were at $1,290-1,297/tonne FOB Korea. Meanwhile, a bid for November shipment parcels was at $1,315/tonne CFR China.

TOLUENE: $1,147-1,155/tonne FOB Korea, unchanged
A November-loading parcel changed hands at $1,150/tonne FOB Korea during the morning session. Offers for November-lifting lots were at $1,152/tonne FOB Korea, meeting bids at $1,145-1,146/tonne FOB Korea. Discussions for October and December were limited.

ETHYLENE: $1,320-1,350/tonne CFR NE Asia, steady
Discussions to buy ethylene spot cargoes are likely to kick off later in the week as market players in China, Korea, and Taiwan have just returned from the mid-autumn holidays. No fresh deals were heard.

PROPYLENE: $1,440-1,450/tonne CFR NE Asia, stable
Selling indications were notionally at $1,450/tonne CFR NE Asia for second-half October deliveries.

By: Staff Reporter
+44 20 8652 3214

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