Europe CX January contract down €50/tonne

Source: ICIS News


LONDON (ICIS)--The European cyclohexane (CX) contract for January has settled at a decrease, following softening in the fully confirmed benzene contract last week.

The European benzene January contract settled at €792/tonne, a decrease of €55/tonne from the previous month, players confirmed in late December.

The settlement was agreed at a US dollar concept of $945/tonne and converted to the euro price at an agreed exchange rate of €1 to $1.1934.

Meanwhile, the European CX first-quarter delta contract settled at €170/tonne, an increase of €5/tonne from the previous quarter, sources confirmed on Thursday.

As a result, the January CX contract has settled at €962/tonne ex-works NWE (northwest Europe).

This decrease of €50/tonne from the previous month marks the first fall in monthly CX contract prices since August 2017.

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