NOON SNAPSHOT Asia Markets Summary

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

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

CRUDE: Dec WTI $94.74bbl, up 12 cents/bbl; Dec BRENT $106.39/bbl, up 16 cents/bbl
Crude prices firmed in Asian morning trade but upside was limited by an expected build in US crude stocks.

NAPHTHA: $939.50.50-942.50/tonne CFR Japan, down $8-9/tonne
Open-spec second-half December prices edged lower on concerns over weak downstream demand.

BENZENE: $1,218-1,228/tonne FOB Korea, down $2-7/tonne
Offers were lower, undermined by overnight Europe and US declines. January offers slipped to $1,208/tonne FOB Korea from $1,213/tonne FOB Korea, while bids edged up to $1,200/tonne FOB Korea from $1,190-1,195/tonne FOB Korea.

TOLUENE: $1,111-1,125/tonne FOB Korea, down $2/tonne at the low end, up $10/tonne at the high end
Offers opened higher, in line with firmer numbers in the key China market. December offers were at $1,122/tonne FOB Korea and January offers stood at $1,122-1,123/tonne FOB Korea. Bids for January cargoes were quoted at $1,113/tonne FOB Korea, while those for February were cited at $1,115/tonne FOB Korea.

ETHYLENE: $1,390-1,410/tonne CFR NE Asia, stable
Selling ideas were stable in the low-$1,400/tonne CFR NE Asia levels for December shipments.

PROPYLENE: $1,460-1,480/tonne CFR NE Asia, flat
Buying interest for December shipments to China has remained supported by recent improvements in the downstream polypropylene (PP) sector. Most buying ideas were capped at $1,460-1,470/tonne CFR NE Asia. Talk of higher bids at $1,475/tonne CFR NE Asia could not be immediately confirmed.

By: Staff Reporter
+44 20 8652 3214

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