LONDON (ICIS)–The European benzene January contract price has settled at €485/tonne, a decrease of €57/tonne from December, two buyers and three sellers said on Friday.

ShutterstockThe settlement was agreed at a US dollar concept of $552/tonne and converted to the euro price at an agreed exchange rate of €1:$1.1377.

This is the lowest contract price agreed for benzene in Europe since May 2009.

The January settlement was a drop of $65/tonne versus December in dollar terms.

The contract price was agreed on a cost, insurance and freight (CIF), northwest Europe (NWE) basis.

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