NOON SNAPSHOT Asia Markets Summary

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

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

CRUDE: Nov WTI $101.67/bbl, up 6 cents/bbl; Nov BRENT $109.09/bbl, up 3 cents/bbl
Crude futures were slightly higher in Asian trade, following sharp losses overnight. Gains were capped by lingering concerns over the US budget impasse.

NAPHTHA: $902-905/tonne CFR Japan, down $6.50-7.50/tonne
Open-spec second-half November prices fell in response to ample supply.

BENZENE: $1,275-1,290/tonne FOB Korea, up $7/tonne at the low end
Second-half November bids were at $1,283-1,287/tonne FOB Korea amid no keen sellers. November offers were at $1,300/tonne FOB Korea, against bids at $1,285/tonne FOB Korea. December offers were at $1,280-1,285/tonne FOB Korea, which were countered with bids at $1,265-1,272/tonne FOB Korea, yielding a fixture at $1,275/tonne FOB Korea.

TOLUENE: $1,122-1,130/tonne FOB Korea, down $3/tonne at the low end
Offer-bid levels opened marginally lower, weighed down by softer prices in the key China market. November bids were at $1,120/tonne FOB Kroea with no counter offer. December offers were at $1,130/tonne FOB Korea, countered with bids at $1,120-1,124/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Buying interest was heard for end-October/November arrival, but end-users in China mostly capped buying indications at the high-$1,300/tonne to $1,400/tonne CFR NE Asia levels.

PROPYLENE: $1,425-1,440/tonne CFR NE Asia, unchanged
Selling ideas for November shipment were heard at around $1,450/tonne CFR NE Asia or higher, while buying ideas were at $1,425-1,435/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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