JX Nippon Oil settles May benzene $5/tonne higher at $1,195/tonne

27 April 2012 13:16  [Source: ICIS news]

SINGAPORE (ICIS)--Japanese aromatics major, JX Nippon Oil & Energy Corp, settled the benzene Asian Contract Price (ACP) for May $5/tonne higher than the previous month’s price, a company source said on Friday.

The producer reached the settlement with its customers at $1,195/tonne CFR (cost and freight) Asia.

The May settlement price was in line with the current spot market value in Asia, which was at $1,185-1,190/tonne FOB (free on board) Korea.

The producer had announced the nomination price for ACP at $1,220/tonne CFR Asia on 23 April.

By: Mahua Chakravarty
+65 6780 4359

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