Initial Europe April benzene CP agreed at €890/t, down €37/t

30 March 2012 16:33  [Source: ICIS news]

LONDON (ICIS)--An initial European benzene contract price (CP) for April has been agreed at €890/tonne, down by €37/tonne from March, one buyer and one seller confirmed on Friday.

The settlement was made at a US dollar concept of $1,181/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the agreed exchange rate of €1:$1.3269.

The settlement is in line with expectations as it is where spot cargoes have been trading over the past few days amid balanced-to-long availability.

Further confirmation from other players is pending.

The European benzene contract for March was fully confirmed at €927/tonne, down €52/tonne from February.

By: Amandeep Parmar
+44 208 652 3214

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