Initial Europe December benzene rises €11/tonne to €671/tonne

30 November 2011 19:16  [Source: ICIS news]

LONDON (ICIS)--The European December benzene contract has been agreed at €671/tonne ($895/tonne), up €11/tonne from the previous month, one producer said on Wednesday.

The settlement was made at a US dollar concept of $895/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the agreed exchange rate of €1 to $1.334. Further confirmation from other market participants is pending.

While the number is a small increase in euro terms, the initial dollar figure represents a $40/tonne drop from November. In November, the agreed exchange rate was €1 to $1.416.

($1 = €0.75)

For more on benzene visit ICIS chemical intelligence

By: Truong Mellor
+44 208 652 3214

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