02 October 2013 15:57 [Source: ICIS news]
(adds producer confirmation in the lead)
LONDON (ICIS)--An initial cyclohexane (CX) fourth-quarter delta has been agreed at a rollover of €151/tonne ($204/tonne), the buyer and seller involved confirmed on Wednesday.
The rollover was attributed by the buyer to balanced supply and demand. It added that, although energy complex values had eroded, they remained within the typical band of volatility.
Several other buyers were also expecting to finalise their fourth quarter CX delta at a rollover, but negotiations are ongoing.
If the fourth quarter delta contract is confirmed at €151/tonne, this will yield an October CX contract price of €1,077/tonne ex-works NWE (northwest Europe).
The monthly CX contract price is composed of the sum of the monthly benzene contract price and the quarterly CX delta contract.
The European October benzene contract was confirmed at €926/tonne this week, down €51/tonne from the previous month.
European benzene spot numbers have gradually edged down over the course of September, the decrease supported by lower Asian and US pricing and recent losses on crude oil futures.
Additional reporting by Truong Mellor
($1 = €0.74)
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