NewsFlashInitial Europe April toluene up $55/t

31 March 2008 17:51  [Source: ICIS news]

LONDON (ICIS news)--An initial European April toluene contract settlement has been made at an increase of $55/tonne (€35/tonne) on March’s average, with surging energy complex values the driving factor, a consumer and producer said on Monday.

"We settled at the midpoint of Friday’s closing range of $960-990/tonne," the producer source said, adding that the increase from March settlements of $915-925/tonne FOB (free on board) NWE (northwest Europe) had been on the basis of surging crude oil and gasoline values during March.

"We have settled with most of our suppliers at $975/tonne," the buyer source said. "It hasn’t been settled with everyone but that is the number I expect it to finish at."

With a number of key settlers absent for the NPRA industry event in the US it was not possible to fully confirm the settlement with other players at the time of writing.

($1 = €0.63)

For more on toluene visit ICIS chemical intelligence

By: Peter Salisbury
+44 20 8652 3214

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