NOON SNAPSHOT Asia Market Summary

29 October 2013 04:00  [Source: ICIS news]

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

CRUDE: Dec WTI $98.43/bbl, down 25 cents/bbl; Dec BRENT $109.16/bbl, down 45 cents/bbl
Crude futures declined in Asian morning trade after substantial gains made in the previous session amid concerns over a sharp fall in Libyan crude exports.

NAPHTHA: $935.25-938.25/tonne CFR Japan, up $12.50-13.50/tonne
Open-spec first-half December prices rose in the morning session, shrugging off lower crude futures as the market faces tightening supply.

BENZENE: $1,245-1,270/tonne FOB Korea, up $5/tonne
January discussions were at $1,215-1,224/tonne FOB Korea when the market opened, buoyed by higher overnight US market. A January fixture was concluded at $1,220/tonne FOB Korea. Subsequently, offers slipped to $1,218/tonne FOB Korea, with no keen buyers.

TOLUENE: $1,087-1,098/tonne FOB Korea, up $3/tonne at the high end
Offers were marginally higher at the start of trade, in tandem with firmer offers in the key China domestic market. January offers were at $1,104/tonne FOB Korea, with bids rising to $1,099/tonne FOB Korea from $1,090/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Talk of an offer at $1,380/tonne CFR Taiwan for a 2,300-tonne cargo for arrival in the second half of November could not be confirmed. Buying ideas were mainly at below $1,400/tonne CFR China/Taiwan.

PROPYLENE: $1,450-1,470/tonne CFR NE Asia, steady
Selling ideas were heard in the high $1,400s/tonne CFR NE Asia, while buying ideas were capped at $1,450-1,460/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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