17 April 2009 10:00 [Source: ICIS news]
SINGAPORE (ICIS news)--Nippon Oil has offered $1,040/tonne (€790.4/tonne) for May paraxylene (PX) cargoes, $160/tonne higher than April's Asian contract price (ACP), a company source said on Friday.
April cargoes were settled at $880/tonne CFR (cost and freight) Asia.
A Taiwanese customer said the rise was expected considering the uptrend in spot prices.
Spot PX prices had risen to $1,110/tonne CFR Taiwan this week due to tight supply and firm demand.
($1 = €0.76)For more on PX visit ICIS chemical intelligence
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