01 August 2013 10:14 [Source: ICIS news]
LONDON (ICIS)--The European August cyclohexane (CX) contract price has been assessed at €1,097/tonne ($1,463/tonne) ex-works NWE (northwest Europe), a €32/tonne decrease compared with July, following the confirmation of the August benzene contract price on Thursday.
The monthly CX contract price is composed of the sum of the monthly benzene contract price and the quarterly CX delta contract.
The European August benzene contract was confirmed at €946/tonne, down €32/tonne from the previous month.
The European CX third-quarter delta contract has been settled at €151/tonne, an increase of €3/tonne because of tighter supply linked to global production outages during the second quarter.
The outlook for European CX demand is mixed, with some players feeling that the market is softening because of the summer holiday period. Consumers have said that availability is improving following some easing of tightness in the US.
However, one supplier felt that demand is still healthy, which is in turn keeping the European market balanced-to-tight amid substantial export activity throughout 2013 so far.
($1 = €0.75)
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