Asia September PX Asian contract price: no settlement reached

30 August 2013 13:08  [Source: ICIS news]

SINGAPORE (ICIS)--Major paraxylene (PX) producers and buyers failed to reach an agreement on Friday on the Asian Contract Price (ACP) for September, market sources said.

During the day, two PX suppliers revised down their nominations to around $1,490-1,520/tonne CFR (cost & freight) Asia, but the majority of end-users were targeting a rollover of August numbers, they said.

Last week, major PX producers in Asia nominated their September ACP at $1,550-1,580/tonne CFR Asia.

Among the PX majors, Japan’s JX Nippon Oil & Energy revised down its nomination to $1,490/tonne CFR Asia, market sources said.

However, towards the day’s close, the company announced no price agreement had been reached with buyers on its September PX ACP, a source familiar with the matter said.

End-users in Taiwan, Japan and China have also said they have failed to reach an agreement for PX September ACP with their respective suppliers.

By: Samuel Wong

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