Major PX producers settle May ACP $40/tonne higher

04 May 2010 07:04  [Source: ICIS news]

SINGAPORE (ICIS news)--Two major Asian paraxylene (PX) producers have settled their May contracts at $1,060/tonne (€806/tonne), $40/tonne higher than April’s settlement, in line with rising spot values, market sources said on Tuesday.

Idemitsu Kosan and Nippon Oil settled their May ACP on a cost and freight (CFR) Asia basis last Friday, they said.

Another PX major - ExxonMobil - was expected to settle its May contract in the next few days, said a major end-user.

Spot PX prices in Asia were assessed at $1,060-1,070/tonne CFR Taiwan last Friday, up $45/tonne or 4.4% from four weeks ago, according to global chemical market intelligence service, ICIS pricing.

($1 = €0.76)

For more information on paraxylene, visit ICIS chemical intelligence
Read John Richardson and Malini Hariharan’s blog - Asian Chemical Connections
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By: Aaron Cheong

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