24 September 2012 12:50 [Source: ICIS news]
SINGAPORE (ICIS)--Paraxylene (PX) majors have nominated their Asian Contract Price (ACP) for October at $1,600-1,650/tonne (€1,232-2143/tonne) on Monday, up by $150-200/tonne from the September settlement, market sources said.
Japan’s JX Nippon Oil & Energy nominated $1,600/tonne CFR (cost and freight) Asia for October PX ACP, while Idemitsu Kosan pegged its nomination at $1,650/tonne CFR Asia.
ExxonMobil, on the other hand, also quoted its October PX ACP at $1,650/tonne, while South Korea’s S-Oil nominated $1,620/tonne CFR Asia.
Nominations were delayed for a week because of wild swings in the PX spot prices, market sources said.
PX values plunged about 5% in the second half of the week ended 21 September, according to ICIS.
($1 = €0.77)
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