30 June 2005 16:21 [Source: ICIS news]
ROME (CNI)--The cyclohexane delta for the third quarter was still under discussion on Thursday on the sidelines of the European Petrochemical Luncheon (EPL), and buyers and sellers expressed widely varying views.
Supplier Huntsman said it was looking for an increase in the delta of Euro30/tonne for the quarter, based on strong demand.
If this initiative were successful, the July cyclohexane contract price would rise Euro231/tonne to Euro862/tonne ex-works Northwest Europe (NWE). This increase includes the hike in the benzene price for July of Euro201/tonne to Euro 730/tonne FOB NWE.
Buyers rejected the proposed increase on the cyclohexane delta, however. A major consumer said demand would be down in the third quarter, as a turnaround is planned for Invista's 270,000 tonne/year adipic acid unit at Wilton, UK in September. Overall downstream demand for nylon was also said to be weak.
A third quarter cyclohexane delta settlement is expected next week.
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