Asia toluene falls $20/tonne to one-year low

06 October 2008 10:53  [Source: ICIS news]

SINGAPORE (ICIS news)--Asia’s toluene values fell to their lowest point for a year by losing up to $20/tonne on Monday as crude prices dropped to an eight-month low, traders said.

 

Prices were being discussed at $835-850/tonne FOB (free on board) Korea, $20/tonne lower than the levels seen at on Friday.

 

A bid surfaced for any November loading in the afternoon at a low of $800/tonne FOB Korea but sellers were still targeting loftier levels with offers at $848-860/tonne FOB Korea.

 

Last time prices hit the mid-$800/tonne FOB Korea level was on 15 October 2007, according to global chemical market intelligence service ICIS pricing.

 

The fall in toluene values was in line with the decline in NYMEX crude futures to $90/bbl on concerns about falling demand due to the current global financial crisis.

 

For more on toluene visit ICIS chemical intelligence

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By: Mahua Chakravarty
+65 6780 4359

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