ExxonMobil nominates November PX ACP at $1,620/tonne
26 October 2011 10:55 [Source: ICIS news]
SINGAPORE (ICIS)--ExxonMobil has nominated the November paraxylene (PX) Asia Contract Price (ACP) at $1,620/tonne (€1,166/tonne) CFR (cost & freight)
Rival producers JX Nippon Oil & Energy, Idemitsu Kosan and S-Oil had earlier proposed their respective November contract prices at $1,590/tonne CFR Asia.
There has yet to be a widely accepted contract price for October.
The settlements between China’s Zhejiang Yisheng Petrochemicals, Idemitsu Kosan and S-Oil at $1,620/tonne CFR Asia was rejected by other key buyers who said the price is too high as their purified terephthalic acid (PTA) margins are poor.
($1 = €0.72)
For more pricing intelligence, visit ICIS pricing
By: Bohan Loh
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