Japan's JX Nippon Oil, Idemitsu settle May PX ACP at $1,550/tonne

27 April 2012 10:56  [Source: ICIS news]

SINGAPORE (ICIS)--Japanese producers JX Nippon Oil & Energy and Idemitsu Kosan settled their May paraxylene (PX) Asian Contract Price (ACP) at $1,550/tonne (€1,178/tonne) on Friday, company officials said.

The price was $35/tonne lower than April’s settlement at $1,585/tonne CFR (cost and freight) Asia.

No settlements were heard from ExxonMobil and S-Oil as at 17.30 hours Singapore time.

PX majors in Asia have lowered their May ACP nominations earlier on Friday as buyers strongly resisted higher prices, market sources said.

($1 = €0.76)

By: Bohan Loh
+65 6780 4359

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