28 February 2013 17:55 [Source: ICIS news]
LONDON (ICIS)--An initial March European benzene contract was agreed at €1,054/tonne, up €14/tonne from the previous month, one buyer said on Thursday.
The contract was agreed on a US dollar concept of $1,380/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the agreed exchange rate of €1:$1.3093.
While the settlement reflects a $28/tonne drop in US dollar terms in an increasingly bearish European market, the buyer noted that the weak euro meant that the euro number moved up from February.
Further confirmation from other players is pending.
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