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.
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