Initial Europe Feb toluene contracts agreed at $1,190–1,195/tonne

01 February 2012 11:52  [Source: ICIS news]

LONDON (ICIS)--Initial European toluene contracts for February have been agreed at $1,190–1,195/tonne (€904–908/tonne), up by $120–130/tonne from the previous month, on the back of rising spot values in January and an increasingly tight supply/demand dynamic, one seller said on Wednesday.

“The increase was no great surprise,” said the seller, adding that it was in line with current spot indications.

There were reports of a February deal earlier this week at $1,195/tonne, but this was so far unconfirmed. Sources said there were offers for February material at $1,205/tonne.

The settlements were done on a free on board (FOB) northwest Europe (NWE) basis. Further confirmation from other parties is pending.

($1 = €0.76)

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By: Truong Mellor
+44 208 652 3214

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