Initial February benzene contract settles up €122/tonne

31 January 2011 19:24  [Source: ICIS news]

LONDON (ICIS)--An initial European February benzene contract was agreed at €1,001/tonne, up €122/tonne from the January settlement, a seller said on Monday.

The settlement was made at a US dollar concept of $1,373/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the officially agreed upon exchange rate of €1 to $1.3716.

A sizable increase was expected for February in light of the gains seen for spot cargo over the last week, as a spate of cracker outages tightened the European market and drove up prices.

Further confirmation from other players was pending.

($1 = €0.74)

For more on benzene visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect


By: Truong Mellor
+44 208 652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly