01 October 2013 10:33 [Source: ICIS news]
LONDON (ICIS)--An initial European October toluene contract has been agreed at $1,115/tonne (€825/tonne), one buyer confirmed on Tuesday, down $25-30/tonne from last month’s range.
European pricing has gradually moved down ahead of October in line with falling oil and energy numbers, as well as lower pricing in both Asia and the US.
One major supplier said that it had heard of the $1,115/tonne settlement, but had not agreed anything with its customers yet.
The contract was settled on a free on board (FOB) northwest Europe (NWE) basis. Further confirmation from other players is pending.
($1 = €0.74)
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