Initial Europe January toluene contract agreed at $1,110/tonne

03 January 2014 15:47  [Source: ICIS news]

LONDON (ICIS)--An initial European January toluene contract has been agreed at $1,110/tonne (€810/tonne), down $20/tonne from the previous month, one buyer confirmed on Friday.

The consumer there was another settlement reported at this level, but this was so far unconfirmed by any of the parties involved.

Price ideas in the spot market saw some erosion in December amid inventory destocking, but later started to gain ground amid some prompt supply concerns.

Several sources reported spot deals within a range of $1,100-1,130/tonne free on board (FOB) towards the end of December.

The contract was settled on a FOB northwest Europe (NWE) basis. Further confirmation from other players is pending.

($1 = €0.73)

By: Truong Mellor
+44 208 652 3214

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