03 May 2013 16:10 [Source: ICIS news]
LONDON (ICIS)--The European cyclohexane (CX) May contract price has been assessed at €1,204/tonne ($1,564/tonne) ex-works NWE (northwest Europe), a €64/tonne increase compared to April, following the confirmation of the benzene May contract price on Friday.
The monthly CX contract price is composed of the sum of the monthly benzene contract price and the quarterly CX delta contract.
The European May benzene contract was confirmed at €1,056/tonne, up €64/tonne from the previous month.
An increase had been widely expected following gains in the spot market in the second half of April, the market moving up on renewed demand for May despite a sharp drop in oil and energy futures.
The second-quarter delta contract settled at €148/tonne, an increase of €5/tonne compared with the first-quarter delta on the back of tight supply.
Additional reporting by Truong Mellor
($1 = €0.77)
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