Toluene market showed signs of improvement in Europe in the week ending February 16, 2013.
Market was dull since the start of this year. Prices were hovering around US$ 1290-1310/ton FOB Rotterdam in the initial days of January 2013.
Prices started declining after that and registered a w-o-w fall of 1% every week in the consecutive weeks and reached US$ 1260-1275/ton during the second week of the current month. Prices showed downward trend mainly due to lower prices of Toluene in the global market.
However, prices went up in the reporting week and were assessed in the range of US$ 1275-1290/ton.
Market experts predict that Toluene prices may go up in US market in the near future which can help increase prices in the European markets. There may also be maintenance turnarounds at some plants which can result in tight supply conditions. Click here to receive latest issue of ChemTrend Report.
