ExxonMobil proposes $130/tonne hike for Dec PX ACP

22 November 2010 03:30  [Source: ICIS news]

SINGAPORE (ICIS)--ExxonMobil has nominated a $130/tonne (€95/tonne) increase for the December paraxylene (PX) Asia Contract Price (ACP), customers of the aromatics major said on Monday.

“ExxonMobil proposed a December ACP of $1,350/tonne CFR Asia,” said one Japan based end-user adding that the hefty hikes were likely to be due to recent gains in spot prices.

JX Nippon Oil and Energy had nominated a December ACP of $1,320/tonne CFR Asia on 19 November – a $100/tonne increase from the November ACP of $1,220/tonne CFR Asia.

Rival Japan-based producer, Idemitsu Kosan, has yet to propose a December ACP.

($1 = €0.73)

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By: Bohan Loh
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