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