05 October 2012 13:26 [Source: ICIS news]
LONDON (ICIS)--An initial European cyclohexane (CX) fourth-quarter delta contract has been agreed at €143/tonne ($186/tonne), an increase of €3/tonne, the buyer and seller involved confirmed on Friday.
The increase was attributed to rising energy costs.
Nevertheless, other buyers said that they would not accept the initial agreement because poor derrivative markets would not allow them to pass the increase on downstream.
“Our target is for a rollover. The arguments for an increase are about energy costs, but demand is weak, so there’s no possibility to increase prices downstream,” a buyer said.
($1 = €0.77)
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