Japan's JX Nippon Oil & Energy seeks $35/tonne hike in May PX ACP

20 April 2012 10:53  [Source: ICIS news]

SINGAPORE (ICIS)--JX Nippon Oil & Energy is seeking a $35/tonne (€27/tonne) increase for its May paraxylene (PX) Asian Contract Price (ACP) from April, a company source said on Friday.

“We nominated a May PX ACP of $1,620/tonne CFR (cost and freight) Asia with validity to 27 April, 17.00 Tokyo time (07:00 GMT),” the source said.

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

Idemitsu Kosan had earlier proposed a monthly contract price of $1,650/tonne CFR Asia.

No nominations were heard from ExxonMobil, while a company source from S-Oil said they will announce its nomination on 23 April.

 ($1 = €0.76)

By: Bohan Loh
+65 6780 4359

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