ExxonMobil proposes $50/tonne hike in August PX ACP

21 July 2010 12:08  [Source: ICIS news]

SINGAPORE (ICIS news)--US-based ExxonMobil has proposed a $50/tonne (€38.5/tonne) hike for the August paraxylene (PX) Asia Contract Price (ACP), customers of the energy major said on Wednesday.

“The nominated price is $950/tonne CFR Asia,” said a Japan-based end-user with a Taiwan-based purified terephathalic acid (PTA) maker confirming the proposed price.

The proposed price represented a $50/tonne hike from the fully settled July ACP of $900/tonne CFR Asia.

Both JX Nippon Oil and Energy and Idemitsu Kosan were expected to nominate a price for the August ACP later during the week.

($1 = €0.77, €1 = £0.84)

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By: Pearl Bantillo
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