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

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly