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)
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