28 June 2013 18:36 [Source: ICIS news]
LONDON (ICIS)--An initial European July benzene contract has been confirmed at €978/tonne, down €67/tonne from the previous month, one buyer confirmed on Friday.
The contract was agreed at a US dollar concept of $1,274/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the agreed exchange rate of €1:$1.3027.
A decrease was widely expected, as the European spot market has fallen sharply towards the end of June on bearish macroeconomic sentiment and weak benzene pricing in both the US and Asia.
Further confirmation from other players is pending.
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