Japan Energy, Idemitsu Petchem hike July Asia PX

16 June 2006 04:35  [Source: ICIS news]

SINGAPORE (ICIS news)--Japan Energy and Idemitsu Petrochemical have hiked their Asian contract price nominations for July paraxylene (PX) by $130-$150/tonne from June’s settlement of $1,050/tonne CFR Asia, company sources said on Friday.

Japan Energy posted $1,200/tonne, while Idemitsu proposed $1,180/tonne.

Earlier this week, Nippon Oil and ExxonMobil nominated their July PX contract prices at $1,150/tonne and $1,200/tonne respectively.

While up on the previous months, the nominations are still below prevailing spot values of $1,230-1,250/tonne CFR Taiwan.

By: Salmon Aidan Lee
+65 6780 4359

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