May CX contract assessed up €29/tonne in line with benzene

30 April 2014 17:45 Source:ICIS News

LONDON (ICIS)--The May cyclohexane (CX) contract price has been assessed at €1,207/tonne, an increase of €29/tonne from April, following initial settlement of the European May benzene contract price late on Wednesday 30 April.

The CX second-quarter delta contract was fully agreed at €159/tonne earlier this month, a rise of €3/tonne from the first quarter, largely on the back of tightening supply.

The May benzene contract has been agreed at €1,048/tonne, up €29/tonne from the previous month. The contract was agreed at a US dollar concept of $1,449/tonne FOB (free on board) NWE (northwest Europe) and converted to the euro price at the agreed exchange rate of €1:$1.3826.

The monthly CX contract price is comprised of the sum of the CX quarterly delta contract and the monthly benzene contract price and is settled on an ex-works NWE basis.

By Truong Mellor