Japan's JX Nippon Oil Oct benzene ACP settlement up by $60/tonne

28 September 2012 12:02  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s JX Nippon Oil and Energy has settled its benzene Asian Contract Price (ACP) for October at $1,240/tonne (955/tonne) on Friday, $60/tonne higher from its September settlement price, said a company source.

The ACP is on a CFR (cost & freight) Asia basis.

Benzene ACP has been increasing since July on expectations of tightening prompt supply in northeast Asia following the shutdown of JX Nippon Oil and Energy’s Mizushima B refinery in Japan in mid-July.

In October, South Korean SK Energy is planning to shut its Ulsan-based reformers for 30-45 days of turnaround. The reformers have an estimated total benzene capacity of 470,000 tonnes/year.

($1 = €0.77)


By: Jasmine Khoo
+65 6780 4359



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