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

31 May 2013 10:09  [Source: ICIS news]

SINGAPORE (ICIS)--Two major Asian paraxylene (PX) producers have settled their June’s Asian Contract Price (ACP) at $1,400/tonne (€1,078), similar to their April’s ACP settlement, market sources said on Friday.

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

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

($1 = €0.77)

By: Samuel Wong

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