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
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections