Europe CX July contract increases marginally on benzene rise

LONDON (ICIS)–The European cyclohexane (CX) July contract settled at a marginal increase with the fall in the Q3 delta taking some weight out of the July benzene increase, sources said Friday.  

The European CX July contract has been assessed at €714/tonne ex works NWE (northwest Europe), an increase of €6/tonne, following the confirmation of the July benzene contract.

The monthly CX contract price comprises the sum of the monthly benzene contract and the quarterly CX delta contract.

The European CX Q3 delta contract was agreed at €129/tonne, a decrease of €7/tonne from the second quarter.

The price fall reflects lengthening supply.

The second-quarter delta increased by €6/tonne on tight supply because of two plant outages at that time, one  planned and the other unplanned.

Production is now running well in Europe and imports are boosting  the region’s supply.

The July benzene contract settlement was confirmed at €585/tonne, up €13/tonne from the previous month.

The settlement was agreed at a US dollar concept of $649/tonne and converted to the euro price at the agreed exchange rate of €1: $1.1090.