Japan's JX Nippon Oil settles June benzene ACP $115/tonne lower

31 May 2012 12:18  [Source: ICIS news]

SINGAPORE (ICIS)--Japanese aromatics major JX Nippon Oil & Energy Corp has settled its June benzene Asian Contract Price (ACP) at $1,080/tonne (€875/tonne) on Thursday evening, a company source said.

The company’s June ACP was $115/tonne lower than the previous month’s settlement price on a cost and freight (CFR) Asia basis, in line with recent falls in spot market values and in crude futures, the source said.

JX Nippoin Oil’s June ACP settlement was $40/tonne lower than its nominated price of $1,120/tonne CFR Asia.

Spot benzene prices in Asia stood at $1,055-1,070/tonne FOB (free on board) Korea on Thursday, according to ICIS.

($1 = €0.81)

By: Mahua Chakravarty
+65 6780 4359

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