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.
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