Nippon Oil posts $1,210/tonne for Jan PX ACP
19 December 2007 03:35 [Source: ICIS news]
SINGAPORE (ICIS news)--Nippon Oil has nominated its Asian contract price (ACP) for January paraxylene (PX) at $1,210/tonne CFR (cost and freight) Asia, even as there is no settlement for the December ACP, company sources and customers said on Wednesday.
The Japanese aromatics major announced the nomination late on Tuesday, but did not explain how it intended to settle the December ACP.
Usually, the monthly ACP is settled before the following month’s nominations appear. But due to a wide buy-sell gap for the December ACP, no settlement had emerged yet.
“We’re not sure how this will play out; we were simply informed that their nomination is $1,210/tonne for January,” said one of Nippon Oil’s customers in
At 10:00 hours
Nominations for the December ACP were at $1,200-1,250/tonne CFR Asia.
By: Salmon Aidan Lee
+65 6780 4359
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