Nippon Oil settles Dec benzene ACP $20/tonne lower

30 November 2010 09:02  [Source: ICIS news]

SINGAPORE (ICIS)--Japanese aromatics major, JX Nippon Oil & Energy Corps, settled its benzene Asian Contract Price (ACP) for December $20/tonne (€15/tonne) lower than the previous month’s settlement, a company source said on Tuesday.

The settlement was reached at $930/tonne CFR (cost and freight) Asia late Tuesday afternoon, the source added.

The $20/tonne discount from the November settlement was in line with the trend seen in the spot benzene market in Asia through this month, he said.

Spot prices in Asia were up on Tuesday due to hikes in crude futures above $85/bbl and were hovering at $940-955/tonne FOB (free on board) Korea, according to ICIS.

($1 = €0.76)

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By: Mahua Chakravarty
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