NewsFlashEurope toluene hits $1,200/t record

18 June 2008 11:54  [Source: ICIS news]

LONDON (ICIS news)--Europe toluene has traded at a new all-time high of $1,200/tonne (€768/tonne) due to high gasoline and oil values, the buyer and seller confirmed on Wednesday.

 

The participating parties, both traders, confirmed that they had done the deal on a free on board (FOB) Rotterdam basis for 1,000 tonnes for July loading on Monday 16 June. Confirmation had not been possible until Wednesday.

 

This was $10/tonne higher than the previous record set on 28 May, at $1,190/tonne FOB Rotterdam, according to global chemical market intelligence service ICIS pricing.

 

Players attributed the record high deal to analogous highs in the crude oil and gasoline sectors, with Brent and NYMEX crude trading within cents of $140/bbl on Monday.

 

($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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