Japan’s JX Nippon September benzene ACP settlement up $40/tonne

02 September 2013 05:44  [Source: ICIS news]

SINGAPORE (ICIS)--Japan's JX Nippon Oil & Energy Corp has settled late on Friday its benzene Asia Contract Price (ACP) for September at $40/tonne (€30/tonne) higher than that in August, in line with the gradual uptrend in August’s spot levels, a company source said.

The September settlement was at $1,290/tonne CFR (cost & freight) Asia, the source said.

This marks a second straight month that ACP has been settled higher.

JX Nippon previously nominated its September ACP at $1,340/tonne CFR Asia.

Average August spot price was $32/tonne higher month on month at $1,254/tonne FOB (free on board) Korea, while the average spot price for the last five trading days of August was at $1,272/tonne FOB Korea, $40/tonne higher than the average spot price in the last five trading days of July, according to ICIS.

($1 = €0.76)

By: Ong Sheau Ling
+65 6780 4359

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