Japan’s JX Nippon Oil nominates July benzene ACP at $1,040/tonne

28 June 2012 12:03  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s JX Nippon Oil has nominated $1,040/tonne (€832/tonne) for its Asian contract price (ACP) for July benzene, down by $40/tonne from the settlement in the previous month, a company source said on Thursday.

The company will settle its July ACP, which is on a cost and freight (CFR) Asia basis, with customers on Friday, the source said.

The July ACP nomination was lower, in line with recent decline in spot prices. But this week, spot prices have surged on the back of an uptrend in the US benzene market.

At the close of trade on Thursday, spot benzene prices were assessed at $1,050-1,070/tonne FOB (free on board) Korea, according to ICIS.

($1 = €0.80)

By: Mahua Chakravarty
+65 6780 4359

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