31 August 2012 18:04 [Source: ICIS news]
LONDON (ICIS)--An initial European benzene contract price for September has been agreed at €1,026/tonne, a decrease of €35/tonne from the previous month, one buyer confirmed on Friday.
A minor decrease was expected as the market appears to have stabilised after months of soaring costs on the back of limited feedstock availability.
The settlement was made at a US dollar concept of $1,287/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the agreed exchange rate of €1:$1.254
Further confirmation from other players is pending.
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