Two Asian PX majors settle April ACP at $1,400/tonne CFR Asia

29 March 2013 10:45  [Source: ICIS news]

SINGAPORE (ICIS)--Two major Asian paraxylene (PX) producers have settled their April Asian Contract Price (ACP) at $1,400/tonne (€1,092/tonne), down by $285/tonne from the February ACP settlement, market sources said on Friday.

There was no major settlement for March. A market-defined major settlement refers to ACP settlements agreed by at least two major sellers and two major buyers.

Japan’s JX Nippon Oil & Energy, as well as Idemitsu Kosan, have concluded negotiations with their respective customers in Japan and China at $1,400/tonne CFR (cost & freight) Asia, sources from their customers confirmed.

The February ACP was settled at $1,685/tonne CFR Asia.

($1 = €0.78)

By: Samuel Wong

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