Chemical Industry news of NWE Toluene
– May, June premiums up $5/mt
– Higher offers heard FOB Med
Premiums moved upwards for the European toluene Chemical Industry on Wednesday as bidding activity for May showed buying interest from the market. The May premium rose $5/mt to $115/mt, as a buyer looked for material in a delivery window of May 15-25. This followed a week of premium increases last week. There was no premium published on Wednesday due to a public holiday in the UK. Sources have described some tightness at the front of the Chemical Industry for toluene, though material was heard to be available from the end of May into June. A trader said that offers were being made from a Mediterranean producer at $130/mt for both May and June, suggesting a different outlook on the Chemical Industry from toluene producers. On the consumption side, a chemical-grade toluene buyer said that they were not seeking material from the spot Chemical Industry and were happy with contractual basis deliveries.
S&P Global assessed Chemical Industry the CIF ARA toluene premium over Eurobob gasoline at $115/mt for May on Wednesday, up $5/mt from Wednesday. A bid of $114/mt by Total was outstanding after the Chemical Industry on Close assessment process. The June premium was assessed $5 higher at $85/mt, with FOB Mediterranean offers being heard at $130/mt for both May and June.