Initial Europe April benzene contract settles down €141/tonne

01 April 2011 09:37  [Source: ICIS news]

LONDON (ICIS)--An initial European April benzene contract has been agreed at €860/tonne, down €141/tonne from the previous month, a seller said on Friday.

The settlement was made at a US dollar concept of $1,212/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the officially agreed exchange rate of €1 to $1.4093.

A decrease is widely expected for the April contract, as spot values moved down throughout March due to the arrival of imports from Asia. Sources widely agree that this has lengthened the prompt ARA (Amsterdam, Rotterdam, Antwerp) market despite several planned shutdowns during this period.

Further confirmation from other players is pending.

($1 = €0.70)

For more on benzene visit ICIS chemical intelligence

By: Truong Mellor
+44 208 652 3214

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