NewsFlashExxonMobil posts higher Aug ACP for PX

17 July 2007 03:59  [Source: ICIS news]

SINGAPORE (ICIS news)--ExxonMobil has raised its Asian contract price (ACP) nomination for August paraxylene (PX) from July’s settlement, customers of the US energy major said on Tuesday.

Its PX ACP nomination for August is $1,245/tonne CFR Asia, up $115/tonne from July.

ExxonMobil did not give any reason behind the price hike. But spot prices had recovered to $1,180/tonne CFR (cost and freight) from $1,130-1,140/tonne in June, amid improving margins for downstream consumers.

Last Friday, Nippon Oil posted its August price as $1,250/tonne CFR Asia.

Idemitsu and Japan Energy are expected to post their contract price for August soon.

By: Salmon Aidan Lee
+65 6780 4359

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