01 July 2013 09:51 [Source: ICIS news]
LONDON (ICIS)--An initial July toluene contract has been agreed at $1,045/tonne (€805/tonne), one buyer confirmed on Monday, down $85-92.50/tonne from the previous month’s range.
While other players are still negotiating, a reduction for July contracts has been widely expected in the European market, amid a bearish macroeconomic landscape and poor derivative demand.
The contract was settled on a free on board (FOB) northwest Europe (NWE) basis. Further confirmation from other players is pending.
($1 = €0.77)
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