Asia October PX contracts fall $200/tonne from Sept

05 October 2009 07:40  [Source: ICIS news]

SINGAPORE (ICIS news)--October paraxylene (PX) contracts in Asia were settled $200/tonne lower compared to September contracts, in line with weakness in spot market prices, industry sources said on Monday.

The October Asian contract price (ACP) stood at $840/tonne CFR (cost and freight) Asia from $1,040/tonne in the previous month, they said.

Major end-users in Hong Kong and Japan have agreed to the price with leading supplier ExxonMobil. Japan’s Mitsui Chemicals took the lead in finalising the October contract price at $840/tonne CFR Asia with the US-based producer, industry sources said.

BP was also heard to have agreed to the same price for October PX late last week, market sources said.

“We heard BP’s settlement late last week and we should be following the price,” said a Taiwanese end-user.

Officials from both ExxonMobil and BP declined to comment.

($1 = €0.69)

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By: Bohan Loh
+65 6780 4359



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