JX Nippon Oil nominates Dec benzene ACP 1% higher at $960/tonne

24 November 2010 11:18  [Source: ICIS news]

SINGAPORE (ICIS)--Japanese benzene major JX Nippon Oil and Energy Corp has nominated its December benzene Asian Contract Price (ACP) at $960/tonne (€720/tonne), a company source said on Wednesday.

The nomination, which was made on a cost and freight (CFR) Asia basis, was $10/tonne higher than the company’s November settlement price.

JX Nippon planned to settle the December ACP on 30 November.

Spot benzene prices in Asia were hovering around $920-935/tonne FOB (free on board) Korea on Wednesday, based on assessments by ICIS.

($1 = €0.75)

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By: Mahua Chakravarty
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