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.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections