30 August 2013 16:29 [Source: ICIS news]
LONDON (ICIS)--The European September benzene contract has been confirmed at €977/tonne, up €31/tonne from the previous month, one buyer confirmed on Friday.
The contract was agreed at a US dollar concept of $1,296/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the agreed exchange rate of €1:$1.3265.
A slight increase had been predicted earlier in the week.
Prompt spot numbers were largely rangebound around $1,290-1,300/tonne towards the end of August, with the holiday period and some ongoing length stalling the upward momentum seen earlier in the month in line with gains seen in both Asia and the US.
Further confirmation from other players is pending.
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