Japan’s JX Nippon Oil offers term PX for 2012 delivery – sources

07 October 2011 05:01  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s JX Nippon Oil & Energy has offered term paraxylene (PX) cargoes for 2012 delivery at a premium of $15/tonne (€11/tonne) to the Asia Contract Price (ACP), market sources said on Friday.

“They offered 20-30% of their production capacity at 100% ACP plus $15/tonne to non-key buyers,” said a northeast Asia-based trader who added it was basically a rollover from 2011.

However, an official from JX Nippon Oil & Energy declined to comment.

JX Nippon Oil & Energy can produce about 2.5m tonnes of PX per annum at its eight facilities in Japan.  

The Japanese aromatics maker has yet to offer term PX cargoes to its key customers, which include Mitsui Chemicals, Mitsubishi Chemical, Oriental Petrochemical Taiwan Corp and China American Petrochemical Co (CAPCO).

($1 = €0.74)

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By: Bohan Loh
+65 6780 4359

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