Initial Europe September toluene settles down by $10-15/tonne

31 August 2010 15:29  [Source: ICIS news]

LONDON (ICIS)--An initial European September toluene contract has been agreed at $735/tonne (€581/tonne), down $10-15/tonne from the previous month, according to one buyer on Tuesday.

“The spot range is a bit vague at the moment, and the market is still thin but we feel this is an acceptable number,” the buyer said.

The source added: “There is currently no point in blending material into gasoline as the returns aren’t there, but the market could see a pick up from HDA units this month.”

The contract was agreed on a free on board (FOB) northwest Europe (NWE) basis.

Confirmation from other market players was pending.

($1 = €0.79)

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By: Truong Mellor
+44 208 652 3214

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