The March  European  contract  price of toluene is likely to settle in a range of $665-$680/mt, 

sources said Tuesday. 

The March contract price was being negotiated by buyers on sellers Tuesday. 

The contract price for February settled at $665/mt FOB ARA. One buyer said a rollover of th

e contract price into March would be appropriate as spot demand was evidently low. 

"Even  at   $665/mt   buying   interest   is   scarce  in  the  spot market," the  buyer  said, also 

notionally  pegging  selling  interest  in  the  spot  market  at $670-$675/mt. "You  should find 

product available at that level." 

A second market source on the selling side argued that average spot prices for toluene in th

e second half of February justified an increase in March. 

"We  expect an increase; that  pull from the US Gulf was a factor in discussions last month bu

t  that  arbitrage  closed  a  while  back   and  that still didn't stop  toluene from pricing around 

$675/mt  in  the  second  half   of  February,"  the  second  source   said,  adding  that   initial 

discussions had  taken  place in  the $670-$680/mt  range. "So there is an increase expected,

it just depends how much."