JX Nippon Oil, ExxonMobil cut December PX ACP nominations

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)

By: Yu Guo
+65 6780 4359

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