Asia PX November ACP settled $195/tonne higher

29 October 2010 09:07  [Source: ICIS news]

SINGAPORE (ICIS)--Paraxylene (PX) Asia Contract Price for November has been settled $195/tonne (€140/tonne) higher than the previous month at $1,220/tonne in tandem with a rise in spot values, market sources said on Friday.

Two Japan-based end users were heard to have finalised the November ACP with major supplier ExxonMobil at $1,220/tonne CFR (cost and freight) Asia.

A third purified terephathalic acid (PTA) maker in Taiwan also concluded its contract price with Idemitsu Kosan at the same price.

The surge in the settlement level was largely attributed to recent gains in spot PX prices which have jumped nearly 17% since early-October to $1,230-1,240/tonne CFR Taiwan and/or China Main Port (CMP).

($1 = €0.72)

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By: Bohan Loh
+65 6780 4359

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