Idemitsu PX contract price up $115/t

17 July 2007 09:54  [Source: ICIS news]

SINGAPORE (ICIS news)--Idemitsu Petrochemical has nominated its Asian contract price (ACP) for August paraxylene (PX) up $115/tonne from the July settlement, customers of the Japanese producer said on Tuesday.

 

Idemitsu announced the nomination at $1,245/tonne CFR (cost and freight) Asia.

 

“Spot prices have been hovering around $1,180-1,190/tonne CFR Taiwan,” said a trader, who added the ACP nomination was within expectations.

 

Earlier today, ExxonMobil proposed $1,245/tonne as well, while last Friday, Nippon Oil posted $1,250/tonne. Japan Energy is expected to name its contract price for August later in the month.

By: Salmon Aidan Lee
+65 6780 4359

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