As demand for toluene in Europe eased, downward pressure was seen rapidly building on spot prices. On Wednesday, sellers of toluene were forced to reduce their offers as not only was the buying mood in the region sluggish but also worries were mounting about increasing length in the markets.
FOB Rotterdam prices of toluene were assessed down at the USD 1030/mt levels with buyer interest seen weak even at the lower price levels.
A toluene seller when contacted said, “ the mood really is bearish at the current time with bids coming our way at levels USD 50/mt below our target prices. We have refused to accept buyer targets at levels as low as USD 980/mt.”
