Corrected: First Euro CX delta at Euro145

12 April 2006 18:55  [Source: ICIS news]

Correction: In the ICIS news story headlined "First Euro CX delta at Euro145" dated 12 April 2006, please read in the fifth paragraph ... overall cyclohexane prices for April would fall Euro23/tonne ... instead of... Euro33/tonne. In the sixth paragraph please read ... the monthly benzene price, which was settled at Euro639/tonne free on board (FB) Northwest Europe (NWE), down 13/tonne ... instead of ...down 23/tonne.

A corrected story follows.

LONDON (ICIS news)--Initial European cyclohexane (CX) second quarter contracts have been settled at a delta of Euro145/tonne between one producer and two major consumers, buyers and sellers said on Wednesday.

The contracts represent a Euro10/tonne decrease on the Q1 delta, which was settled at Euro155/tonne.

Other producers have not yet followed the settlement and indicated that they had hoped for a higher figure. One said that it was unrealistic, especially in light of renewed strengthening in the energy complex.

Buyers said that they thought Euro145/tonne was a fair number and that they would pursue settlements at this level with other producers.

If the delta of Euro145/tonne is accepted, overall cyclohexane prices for April would fall Euro23/tonne to Euro784/tonne ex-works.

Cyclohexane prices are determined by combining the quarterly delta with the monthly benzene price, which was settled at Euro639/tonne free on board (FOB) Northwest Europe (NWE), down Euro13/tonne.


By: Benjamin Purvis
+44 20 8652 3214



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