31 May 2013 16:51 [Source: ICIS news]
LONDON (ICIS)--An initial European June benzene contract has been confirmed at €1,045/tonne, down €11/tonne from the previous month, two buyers confirmed on Friday.
The contract was agreed at a US dollar concept of $1,353/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the agreed exchange rate of €1:$1.2947.
“We agreed [this number] with all of our suppliers for June,” one of the consumers said.
The spot market had started to edge up this week ahead of the contracts talks, with deals done as high as $1,355/tonne.Further confirmation from other players is pending.
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