16 April 2008 08:44 [Source: ICIS news]
SINGAPORE (ICIS news)--Japanese paraxylene (PX) producer Nippon Oil has nominated its Asian Contract Price (ACP) for May at $1,350/tonne (€851/tonne) – the lowest among key producers, two end-users said on Wednesday.
The hike in the May ACP CFR (cost and freight) ?xml:namespace>
Company officials were not immediately available for comment.
Earlier, Exxon was heard to have announced its nomination at $1,390/tonne while Idemitsu had nominated the May contract at $1,360/tonne.
“It’s very likely
Traders had said earlier it could be difficult to reach the May price targets due to softening purified terephthalic acid (PTA) prices, which slipped $5/tonne to $965-975/tonne CFR China on Tuesday.
($1 = €0.63)
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