Euro115/mt hike likely on Jan Euro benzene contract

29 December 2005 12:26  [Source: ICIS news]

LONDON (ICIS news)--The  European benzene contract price for January is expected to soar by Euro115/tonne (23%) to Euro599-612/tonne FOB NWE in an early settlement, market players said on Thursday.

With spot prices last pegged at $710-725/tonne CIF Rotterdam for January, the spot market is now $109-120/tonne above the December benzene contract price of Euro490-492/tonne FOB (free on board) NWE (Northwest Europe). 

The January contract was expected to be settled on Friday (30 December), the last working day of the month. But two major consumers said on Thursday that negotiations were already under way and that they were hopeful of an early settlement on Thursday.

By: Barbara Ortner
+44 20 8652 3214

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