NOON SNAPSHOT Asia Markets Summary

01 November 2013 04:00  [Source: ICIS news]

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

CRUDE: Dec WTI $96.38/bbl, unchanged ; Dec BRENT $109.06/bbl, up $0.22/bbl
Brent crude futures  firmed on Friday morning while WTI was rangebound. Prices were  supported by positive manufacturing data from China, but a firmer US dollar limited upside pressure.

NAPHTHA: $947-950/tonne CFR Japan, down $1-2/tonne
Open-spec first-half December prices edged down on overnight crude losses.

BENZENE: $1,225-1,235/tonne FOB Korea, down $20/tonne at the high end
Sporadic discussions dominated in the morning, with slipping downstream styrene monomer numbers. January benzene offers were hovering at $1,210-1,215/tonne FOB Korea and bids at $1,205/tonne FOB Korea. An offer for H1 December-January was quoted at a backwardation of $30/tonne.

TOLUENE: $1,097-1,105/tonne FOB Korea, up $5-7/tonne           
A January deal was concluded at $1,100/tonne FOB Korea when the market opened. Bids subsequently rose to $1,103/tonne FOB Korea from $1,098/tonne FOB Korea. December offers inched up to $1,105/tonne FOB Korea, against separate bids at $1,097/tonne FOB Korea. The higher offer-bid levels on FOB Korea basis stemmed from slight improvements in buying activity in the key China market amid lower inventories.

ETHYLENE: $1,390-1,410/tonne CFR NE Asia, stable
Buying indications were in the mid- to high-$1,300/tonne CFR NE Asia levels for end-November/early December shipment cargoes, while selling ideas were at $1,400/tonne CFR NE Asia to the low-$1,400/tonne CFR NE Asia levels.

PROPYLENE: $1,460-1,470/tonne CFR NE Asia, stable
Selling ideas for December shipment were heard at $1,470-1,480/tonne CFR NE Asia while buying ideas at $1,460-1,470/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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