EVENING SNAPSHOT Asia Markets Summary

07 October 2013 11:00  [Source: ICIS news]

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

CRUDE: Nov WTI $102.68/bbl, down $1.16/bbl; Nov BRENT $108.30/bbl, down $1.16/bbl
Crude futures weakened in Asian afternoon trade amid demand worries arising from the partial shutdown of US government services, and the restart of production in the US Gulf after Tropical Storm Karen.

NAPHTHA: $890.25-892.25/tonne CFR Japan, down $13.75-14.75/tonne Open-spec second-half November prices skidded in response to falling crude futures. A first-half December contract was traded at $891/tonne.

BENZENE: $1,268-1,282/tonne, down $4/tonne at the low end
Market discussions were few in the afternoon session. November bids were heard at $1,270-1,275/tonne FOB Korea, while December offers were at $1,273-1,280/tonne FOB Korea. December bids were at $1,260-1,265/tonne FOB Korea. January cargoes were offered at $1,268-1,270/tonne FOB Korea.

TOLUENE: $1,118-1,128/tonne FOB Korea, softer by $4-5/tonne
A December-loading parcel was sold at $1,127/tonne FOB Korea, while the bid-offer range was at $1,125-1,131/tonne FOB Korea. Discussions for October-lifting lots were subdued. Offers for November-loading cargoes edged downwards steadily throughout the afternoon trading session from $1,132/tonne FOB Korea to $1,128/tonne FOB Korea.

ETHYLENE: $1,370-1,420/tonne CFR NE Asia, steady
Discussions to sell November shipments were underway on Monday, with selling indications at around $1,320/tonne FOB Japan. No CFR NE Asia deals were heard, as players are awaiting resumption of trade in the leading China market on Tuesday.

PROPYLENE: $1,425-1,440/tonne CFR NE Asia, down by $5-10/tonne
Spot offers were heard at $1,440/tonne CFR NE Asia or above while buying ideas were in the low-$1,400/tonne CFR NE Asia levels. An inter-trade deal was heard done at $1,425/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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