Initial Europe Sept toluene agreed at $1,135/tonne - seller

01 September 2011 17:32  [Source: ICIS news]

LONDON (ICIS)--An initial September toluene settlement has been agreed at $1,135/tonne (€795/tonne), down by $80-85/tonne from last month, one major supplier said on Thursday.

Following several months of confusion and opposing views regarding European pricing, the seller said that it had managed to agree this number with virtually all of its customers.

According to the seller, the market has seen more liquidity in recent weeks and is looking more balanced now.

The seller added: “Most are happy with the contract number, and think it is fair.”

The settlement was agreed on a free on board (FOB) northwest Europe (NWE) basis.

($1 = €0.70)

Additional reporting by Julia Meehan

For more on toluene visit ICIS chemical intelligence

By: Truong Mellor
+44 208 652 3214

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