Japan's Idemitsu Kosan seeks $65/tonne hike for May PX ACP

20 April 2012 07:46  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Idemitsu Kosan is seeking a $65/tonne (€49.4/tonne) increase for its May paraxylene (PX) Asian Contract Price (ACP), a company source said on Friday.

“We nominated a price of $1,650/tonne CFR (cost and freight) Asia with validity up to 27 April at midnight Tokyo time,” the source added.

The April PX ACP was settled at $1,585/tonne CFR Asia.

No nominations for the May PX ACP were heard from JX Nippon Oil & Energy, S-Oil and ExxonMobil as of 13:30 hours Singapore time (05:13 GMT).

($1 = €0.76)

By: Bohan Loh
+65 6780 4359

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