30 November 2012 08:05 [Source: ICIS news]
SINGAPORE (ICIS)--Two major paraxylene (PX) producers in Asia have lowered their December Asian Contract Price (ACP) nominations on Friday afternoon, market sources said.
Japan’s JX Nippon Oil & Energy reduced its Dec PX ACP nomination by $40/tonne (€31/tonne) to $1,550/tonne CFR (cost and freight) Asia, while ExxonMobil cut its nomination by 70/tonne to $1,550/tonne, customers of the two companies said.
End-users’ ideas were heard in a range of $1,450-1,525/tonne CFR Asia earlier on.
Market players fear another non-settlement of ACP for a second consecutive month.
December ACP offers from JX Nippon Oil & Energy will remain valid until 17:00 hours Japan time (08:00 GMT).
($1 = €0.69)
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