Asia PX December ACP settlement rises $55/tonne

01 December 2010 02:53  [Source: ICIS news]

SINGAPORE (ICIS)--The Asian contract price (ACP) for December paraxylene was settled at $1,275/tonne (€982/tonne), up $55/tonne from the previous month, in line with higher spot values, market sources said on Wednesday.

At least three buyers were heard to have finalised the December ACP with major supplier ExxonMobil at this price, on a cost and freight (CFR) Asia basis.

Two end-users also concluded their ACP with Japanese PX major Idemitsu Kosan at the same price, market sources said.

Spot PX prices jumped 20% from 1 October to $1,265-1,275/tonne CFR China Main Port (CMP) on 26 November 2010, according to ICIS data.

($1 = €0.77)

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By: Aaron Cheong

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