Europe Nov CX contract settles up €6/tonne on benzene increase

LONDON (ICIS)–The November European cyclohexane (CX) contract has settled up €6/tonne, following the confirmation of the upstream benzene contract on Tuesday.

The November European CX contract has settled at €729.50/tonne, a €6/tonne increase from October.

The November European benzene settlement was confirmed at €603/tonne, up €6/tonne from the previous month’s settlement.

The settlement was agreed at a US dollar concept of $659/tonne and converted to the euro price at an agreed exchange rate of €1:$1.0922.

Despite the slight drop in the dollar figure this month, a weakening euro over the course of October saw the November settlement edge higher in euro terms.

Players had been anticipating limited movement for the November contract settlement, with the European market balanced overall due to some ongoing cracker outages over October.

The European CX Q4 delta contract was confirmed at €126.50/tonne, a decrease of €2.50/tonne from the third quarter. 

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

Additional reporting Truong Mellor