22 November 2011 08:04 [Source: ICIS news]
SINGAPORE (ICIS)--JX Nippon Oil & Energy has proposed a $30/tonne drop to the paraxylene (PX) Asia Contract Price (ACP) for December, while producer Idemitsu Kosan is eyeing a rollover price from the previous month, customers of the Japanese aromatics makers said on Tuesday.
JX Nippon Oil has nominated a December PX ACP of $1,470/tonne (€1,088/tonne) CFR (cost & freight) Asia, while Idemitsu Kosan has proposed a contract price of $1,500/tonne CFR Asia, according to market sources.
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The November PX ACP was fully settled at $1,500/tonne CFR Asia.
Spot PX cargoes for delivery in January was heard to be discussed at around $1,365-1,385/tonne CFR Taiwan and/or CMP (
The buying interest among end-users is weak because of squeezed margins from the downstream purified terephthalic acid (PTA) sector.
($1 = €0.74)
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