NewsFlashFirst Q3 Europe CX delta at €140

11 July 2006 12:16  [Source: ICIS news]

LONDON (ICIS news)--The European cyclohexane (CX) delta for the third quarter has been agreed at €140/tonne, a source at a major European producer said on Tuesday.

The number, which represents a €5/tonne decrease on the second quarter settlement, had been agreed with most key customers, he said.

The figure was subsequently confirmed by a major consumer, although it remained unclear whether it had been followed by other market participants.

Despite the delta reduction, overall CX prices were set to climb in July following an increase in the benzene contract price.

CX prices are determined by combining the quarterly delta with the monthly benzene price, which in July was settled at €850/tonne free on board (FOB) Northwest Europe (NWE), up €40/tonne.

If the delta of €140/tonne were accepted by the market, July cyclohexane prices would rise to €990/tonne ex-works, up €35/tonne from June.

By: Benjamin Purvis
+44 20 8652 3214

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