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BZ Asia 16-Mar
Following EU/US weakness, Asia BZ softened on 16/Mar. However, strong demand from Japan would continue to support this market.
AM
AMy B 1175, 1170
PM
1M B FK+3 S-Oil to MBK
2A B 1190 CAO to MBK
AMy B 1170 SKE to Acro, Interchem, Trammo
Apr 1kt1225 MBK to MCI (P&C)
It seems SKE did Nap-BZ spread (short). SK/Japan PIC did not estimate earthquake impact would be so big.
Endusers in Japan would be in need to buy another 5-10kt in Apr, while we could not grasp how much co-producer have to secure to perform their contractual obligation.
When it comes to PX, FM and 50% supply allocation was declared by JX.
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