March toluene settles up $15/t on high costs

03 March 2008 15:10  [Source: ICIS news]

LONDON (ICIS news)--A European toluene consumer and producer confirmed the settlement of a March contract on Monday up $15/tonne (€9.8/tonne) on the February average to $915/tonne, due to higher energy and gasoline costs.

  

The settlement was made on an FOB (free on board) NWE (northwest Europe) basis.

 

“We settled at $915/tonne, in line with current gasoline, energy and spot values,” said the consumer source. “It is an increase of $15/tonne on the average of the February contracts.”

 

Spot toluene values were assessed at $910-930/tonne FOB Rotterdam by global chemical intelligence service ICIS pricing at 14:00 GMT, up $40-45/tonne on those seen a month previously.

 

Crude oil and gasoline had found new record highs in February.

 

Final confirmation of other toluene contracts was pending.

 

($1 = €0.66)

 

For more on toluene see ICIS chemical intelligence

 

By: Peter Salisbury
+44 20 8652 3214

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