NOON SNAPSHOT: Asia Markets Summary

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

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

CRUDE: Nov WTI $98.92/bbl, down 30 cents; Dec BRENT $109.73/bbl, up 9 cents
US crude futures softened on Tuesday morning amid worries over US demand following a build in crude inventories in the world’s largest oil consumer. ICE Brent crude futures edged higher after losing some ground in the previous session.

NAPHTHA: $936.75-939.75/tonne CFR Japan, down $0.50-1.50/tonne
Open-spec first-half December prices moved lower on overnight crude losses.

BENZENE: $1,190-1,215/tonne FOB Korea, down $30-37/tonne
Discussion levels for December and January cargoes fell on weaker crude prices. January-loading parcels were bid at $1,150-1,183/tonne FOB Korea, while offers started at $1,125/tonne FOB Korea and fell to $1,190/tonne FOB Korea by midday. Bids for December lots were at $1,190-1,192/tonne FOB Korea, against offers at $1,205/tonne FOB Korea.

TOLUENE: $1,075-1,080/tonne FOB Korea, down $9-14/tonne
A December-lifting parcel was heard to have changed hands at $1,080/tonne FOB Korea, but no further details were available. Another December cargo was sold at $1,079/tonne FOB Korea. Offers of December-loading lots were at $1,079-1,085/tonne FOB Korea, meeting bids at $1,075-1,078/tonne FOB Korea. Offers of January shipment parcels were at $1,090/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
No CFR NE Asia deals were heard. A regional producer was sold out for November after an earlier sale of a 2,300 tonne cargo late on 18 October at $1,320/tonne FOB Japan for second-half November lifting.

PROPYLENE: $1,455-1,470/tonne CFR NE Asia, up $5/tonne high end
Chinese buyers indicated prices at $1,450-1,465/tonne CFR NE Asia for second-half November shipments, against selling ideas at $1,470-1,475/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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