01 November 2012 09:29 [Source: ICIS news]
While some downward correction had been expected as activity winds up ahead of year end, northwest Europe toluene supply is expected to remain tight and prices relatively bullish into 2013 on production constraints and strong derivative demand in eastern Europe.
One seller acknowledged that there were lower price indications from buyers in November, but still felt that the market would remain buoyant. The consumer involved in the first settlement previously said that there was a significant gap between buyers and sellers this month.
The contract was settled on a free on board (FOB) northwest Europe (NWE) basis, with further confirmation from other players pending.
($1 = €0.77)
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