Japan’s Idemitsu Kosan proposes $150/tonne hike for March PX ACP

22 February 2012 09:12  [Source: ICIS news]

SINGAPORE (ICIS)--Idemitsu Kosan is proposing a $150/tonne (€114/tonne) increase in its March paraxylene (PX) Asian Contract Price (ACP), customers of the Japanese aromatics maker said on Wednesday.

The company nominated $1,740/tonne CFR (cost and freight) Asia for March ACP, they said.

February PX ACP was fully settled at $1,590/tonne CFR Asia.

Rival producers S-Oil and JX Nippon Oil & Energy had earlier proposed their respective March ACP at $1,690/tonne CFR Asia, while ExxonMobil has yet to make a nomination as at 17.00 Singapore time (09:00 GMT).

($1 = 0.75)

By: Bohan Loh
+65 6780 4359

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