Europe CX August contract increases on benzene hike

LONDON (ICIS)–The European cyclohexane (CX) August contract has settled at an increase, driven by the upstream benzene hike, sources said on Monday.

The European CX August contract has been assessed at €781/tonne ex works NWE (northwest Europe), an increase of €67/tonne, following the confirmation of the August benzene contract.

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

The August benzene contract was confirmed at €652/tonne, up €67/tonne from the “” www.icis.com=”” subscriber=”” news=””>previous month, with the initial settlement heard on Friday 29 July receiving further support from players in the market.

The settlement was agreed at a US dollar concept of $723/tonne and converted to the euro price at the agreed exchange rate of €1: $1.1090. 

An increase had been expected, with spot numbers surging higher towards the end of July amid some prompt availability constraints.

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

Supply in the CX marketing is lengthening on an influx of imports, European production running well and a seasonal deflation of demand in some areas.

Additional reporting Truong Mellor