NewsFlashIdemitsu nominates Jan PX at $1,250/t
19 December 2007 03:32 [Source: ICIS news]
SINGAPORE (ICIS news)--Idemitsu Kosan has nominated its Asian contract price (ACP) for January paraxylene (PX) at $1,250/tonne CFR (cost and freight) Asia, although there is no settlement for the December ACP, company sources and its customers said on Wednesday.
The Japanese aromatics major did not explain how it intends to settle the December ACP. Fellow PX producer Nippon Oil posted a $1,210/tonne nomination on Tuesday.
Usually, the monthly ACP is settled first before the following month’s nominations appear. But due to a wide buy-sell gap for the December ACP, no settlement had emerged yet.
ExxonMobil have yet to nominate its January ACP. The major similarly has no settlement for its December ACP.
December’s nominations by the trio were at $1,200-1,250/tonne.
By: Salmon Aidan Lee
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