Asia September paraxylene settles $60/tonne higher at $950/tonne

31 August 2010 12:37  [Source: ICIS news]

SINGAPORE (ICIS)--The September paraxylene (PX) Asia Contract Price (ACP) has been finalised at $950/tonne (€751/tonne), $60/tonne higher than the August ACP, market sources said on Tuesday.

Two Taiwan-based end-users were heard to have agreed the September contract at $950/tonne CFR (cost and freight) Asia with all of the three relevant negotiating sellers – JX Nippon Oil and Energy, Idemitsu Kosan and ExxonMobil – according to market sources.

Sources attributed the $60/tonne month-on-month increase in the PX ACP to recent gains in spot PX prices.

By the close of business on Tuesday, PX for October delivery was heard to be discussed at around $960-970/tonne CFR Taiwan and/or CMP (China Main Port).

($1 = €0.79)

For more on paraxylene visit ICIS chemical intelligence
Read John Richardson and Malini Hariharan’s Asian Chemical Connections blog
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By: Bohan Loh
+65 6780 4359

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