Europe August benzene confirmed down €12/t at €668/t

03 August 2010 11:39  [Source: ICIS news]

LONDON (ICIS)--The European August benzene settlement was confirmed on Tuesday at €668/tonne, down €12/tonne from the previous month, as the initial settlement received further support from players.

The initial settlement was made late on Friday at a dollar concept of $873/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at an officially agreed exchange rate of $1.3069 to €1.

Earlier this week, however, other consumers stated that they were yet to follow the initial number, and discussions were still said to be ongoing around the $870/tonne mark.

One major European buyer said on Tuesday that while the market now largely appeared to have settled August at $873/tonne and negotiations were closed, it did not agree with the number.

($1 = €0.76)

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By: Truong Mellor
+44 208 652 3214

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