19 March 2013 10:45 [Source: ICIS news]
SHANGHAI (ICIS)--Spot toluene prices in Asia hit an eight-and-a-half month low on Tuesday, weighed down by mounting inventories in the key China market, market players said.
On Tuesday’s close, spot toluene prices were assessed by ICIS at $1,100-1,105/tonne (€847-851/tonne) FOB (free on board) Korea for April loading and $1,110-1,120/tonne FOB Korea for May cargoes.
Market participants estimated that inventories at east China will reach 100,000 tonnes or even more by the end of the week or the coming week, a result of the recent large volume of import arrivals over the past two weeks as well as tepid downstream demand.
($1 = €0.77)
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