Europe Oct CX contract settles at €723.50/tonne
Katherine Sale
30-Sep-2016
LONDON (ICIS)–The October European cyclohexane (CX) contract
has settled at €723.50/tonne, down €32.50/tonne after the Q4
delta settlement and the benzene settlement, sources said on
Friday.
The October European benzene settlement was confirmed
at €597/tonne, down €30/tonne from the previous month, as the
initial agreement received further support from players on
Friday.
The settlement was agreed at a US
dollar concept of $670/tonne and converted to the euro price
at an agreed exchange rate of
€1:$1.1225.
A reduction had been anticipated, with European benzene spot
numbers drifting lower in the days
leading up to the contract settlement. With no clear driving
forces coming from the market, prices have been tracking
developments on crude oil and energy this week.
The European CX Q4 delta contract
has been confirmed at €126.50/tonne, a decrease of
€2.50/tonne from the third quarter, two producers and three
buyers confirmed this
week.
The €126.50/tonne was said to represent a compromise between
the buyers and sellers involved.
The monthly CX contract price
comprises the sum of the monthly benzene contract and the
quarterly CX delta contract.
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