Japan's JX Nippon Oil nominates $1,700/tonne for September PX ACP

23 August 2011 12:24  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s JX Nippon Oil & Energy is seeking a $160/tonne (€112/tonne) hike for the September paraxylene (PX) Asia Contract Price (ACP), customers of the aromatics major said on Tuesday.

JX Nippon Oil & Energy has nominated a September PX ACP of $1,700/tonne CFR (cost and freight) Asia. The August PX ACP was fully settled at $1,540/tonne CFR Asia.

Rival producer ExxonMobil also nominated a September PX ACP of $1,700/tonne CFR Asia, on 22 August.

Japan's Idemitsu Kosan and South Korea’s S-Oil are expected to announce their nominations for the benchmark contract price later in the week.

The monthly PX ACP is widely considered as a benchmark price on which almost all term-supply contract formulae are based. It is usually settled in the last week of the preceding month.

The PX ACP will be settled on 31 August.

($1 = €0.70)

For more on PX visit ICIS chemical intelligence


By: Bohan Loh
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index