NOON SNAPSHOT Asia Markets Summary

08 October 2013 05:00  [Source: ICIS news]

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

CRUDE: Nov WTI $102.89/bbl, down 14 cents/bbl; Nov BRENT $109.40/bbl, down 28 cents/bbl
Crude futures edged lower on Tuesday morning amid demand worries triggered by the partial shutdown of  US government services.

NAPHTHA: $903.25-906.25/tonne CFR Japan, up $13-14/tonne
Open-spec second-half November prices bounced higher in tandem with firmer petrochemical margins.

BENZENE: $1,265-1,267/tonne FOB Korea, down $3-15/tonne
January discussion were at $1,250-1,259/tonne FOB Korea. December offers slipped to $1,262/tonne FOB Korea from $1,275/tonne FOB Korea amid limited buying ideas. For the intermonth swap between November and December, an offer was quoted at a backwardation of $10/tonne, with buying ideas at a backwardation of around low- to mid-single digits.

TOLUENE: $1,115-1,122/tonne FOB Korea, down $3-6/tonne
Market opened with November offers at $1,125-1,127/tonne FOB Korea, with no counter bid. December offers slipped to $1,123/tonne FOB Korea from $1,127/tonne FOB Korea, while bids hovered at $1,120-1,122/tonne FOB Korea. In late morning trade, December bids were withdrawn, with offers emerging again at $1,123-1,125/tonne FOB Korea.

ETHYLENE: $1,370-1,420/tonne CFR NE Asia, stable
Selling indications remain at above $1,400/tonne CFR NE Asia, with discussions expected to kick off later in the week.

PROPYLENE: $1,425-1,440/tonne CFR NE Asia, stable
Spot offers were heard at $1,440/tonne CFR NE Asia or against buying ideas at the low-$1,400/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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