NOON SNAPSHOT Asia Markets Summary

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

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

CRUDE: Dec WTI $97.39/bbl, up 28 cents/bbl; Dec BRENT $107.18/bbl, up 19 cents/bbl
Crude futures edged higher in Asian morning trade, supported by a softer US dollar. But demand worries following recent builds in US crude stocks weighed on prices.

NAPHTHA: $911.25-914.25/tonne CFR Japan, down $5.00-6.00/tonne
Open-spec first-half December prices drifted lower on concerns of ample prompt supply.

BENZENE: $1,245-1,285/tonne FOB Korea, up $33-40/tonne
December and January offers spiked to $1,300/tonne FOB Korea and $1,250/tonne FOB Korea, respectively, when the market opened, backed by sharp overnight gains in the US market. A separate January bid stood at $1,190/tonne FOB Korea. Subsequently, January negotiations narrowed to $1,230-1,240/tonne FOB Korea, with a deal concluded at $1,230/tonne FOB Korea.

TOLUENE: $1,095-1,110/tonne FOB Korea, up $10-15/tonne
December bids gained over the morning session to $1,105/tonne FOB Korea from $1,098/tonne FOB Korea, while offers were at $1,110-1,125/tonne FOB Korea. January bids were previously quoted at $1,100-1,105/tonne FOB Korea, countered with offers at $1,118/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, steady
Discussions to buy a 12,000 tonne spot cargo of Middle East origin were heard during the week for end-November lifting but talks with a potential  buyer in China have hit a snag due to differences with regards to the formula being used.

PROPYLENE: $1,455-1,475/tonne CFR NE Asia, stable
A second-half November shipment was heard traded at $1,470/tonne CFR China Main Port (CMP).

By: Staff Reporter
+44 20 8652 3214

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