Europe toluene spot prices supported by US and Asia

20 September 2013 11:02  [Source: ICIS news]

LONDON (ICIS)--European toluene spot prices continue to be held up by high prices in the US and Asia, despite falling global crude oil values, sources said on Friday.

“The US and Asia are both still firm and this is keeping European values where they are,” said an aromatics trader.

European spot toluene is currently valued at $1,155-1,165/tonne (€855-862/tonne) FOB (free on board) Rotterdam, which is the highest bid/offer range seen since May this year.

However, year on year, spot toluene is considerably cheaper than in September 2012 when it was pegged at an ICIS average of $1,450/tonne because of production problems in Europe.

A seller of toluene said: “[The named trader] offered and there was a firm bid for 3,000 tonnes at $1,155/tonne FOB (free on board) ARA (Amsterdam-Rotterdam-Antwerp). Somebody is looking to move toluene to the US."

($1 = €0.74)

By: Julia Meehan
+44 20 8652 3214

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