01 October 2013 11:20 [Source: ICIS news]
LONDON (ICIS)--The European October benzene contract has been confirmed at €926/tonne, down €51/tonne from the previous month, as the initial settlement received further support from players on Tuesday.
The contract was agreed at a US dollar concept of $1,254/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the agreed exchange rate of €1:$1.3542.
Following the €35/tonne reduction for ethylene this month, European styrene players are braced for a decrease on the monthly barge contract in October purely on a feedstock basis.
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