Japan’s JX Nippon nominates Feb PX ACP higher at $1,720/tonne

25 January 2013 09:29  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s JX Nippon Oil & Energy has nominated its February paraxylene (PX) Asian Contract Price (ACP) at $1,720/tonne (€1,290/tonne), a company source said on Friday.

The February nomination is $70/tonne higher than its January nomination, which stood at $1,650/tonne CFR (cost & freight) Asia.

No firm counter bids were heard from end-users.

The nominations were too high for downstream purified terephthalic acid (PTA) makers given the weakness in downstream business conditions, according to several end-users.

February nominations from three other major producers were at $1,762-1,765/tonne CFR Asia.

($1 = €0.75)


By: Yu Guo
+65 6780 4359



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