June toluene agreed in line with other settlements

02 June 2008 16:40  [Source: ICIS news]

LONDON (ICIS news)--European major producer and consumer confirmed the settlement of their June contract on Monday at $1,172.50/tonne, in line with reports of earlier settlements.

 

“We agreed our contracts at $1,172.50/tonne [750/tonne],” a source at the producer said. “This was up to a record high on gasoline and energy; it was also in line with movements in [downstream] benzene.”

 

The consumer said that the settlement had been made at “the mid point” of an earlier settlement of $1,170-1,175/tonne FOB (free on board) NWE (northwest Europe) reported by another European consumer and producer on Friday.

 

Final assessment of a range for June benzene contracts by global chemical intelligence service ICIS pricing was pending confirmation by further industry sources.

 

($1 = €0.64)

 

For more on toluene visit ICIS chemical intelligence

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By: Peter Salisbury
+44 20 8652 3214

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