02 October 2011 16:35 [Source: ICIS news]
BERLIN (ICIS)--The European toluene market is difficult to read because of ongoing disparity between buyers and sellers and a lack of active spot business, sources said on Sunday.
Speaking on the sidelines of the 45th annual European Petrochemical Association (EPCA) meeting, one buyer said that there is still a wide range of numbers touted in the market.
While buyers point to weak macroeconomic conditions, sellers continue to highlight ongoing tightness in the ?xml:namespace>
However, with an initial October contract confirmed at $1,035/tonne (€776/tonne) and talk of others agreed within a range of $1,035-1,040/tonne, the current trend appears to be downward.
“We don’t really see the market as being tight,” the buyer said. “There isn’t enough demand to keep it tight.”
($1 = €0.75)
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