Initial Europe August benzene CP settles up by €132/tonne

29 July 2011 17:02  [Source: ICIS news]

LONDON (ICIS)--The European August benzene contract has been agreed at €886/tonne, up €132/tonne from the previous month, two consumers said on Friday.

The settlement was made at a US dollar concept of $1,263/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the officially agreed exchange rate of €1 to $1.4255.

A sizeable increase was expected for August, as firming global markets and some short covering pushed domestic spot prices up by nearly $200/tonne over the course of July.

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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