No major settlement for Asia November PX ACP

SINGAPORE (ICIS)–No major settlement was reached for November paraxylene (PX) Asian Contract Price (ACP) on Thursday, the fourth month this year that buyers and sellers failed to agree on a single price, market sources said.

During the day, PX suppliers revised down their nominations to around $1,395-1,420/tonne (€1,018-1,037/tonne)CFR (cost & freight) Asia, from $1,470-1,480/tonne CFR Asia last week, market sources said.

Among the PX majors, Japan’s JX Nippon Oil & Energy cut its nomination to $1,400/tonne CFR Asia, while ExxonMobil lowered its nomination to $1,420/tonne CFR Asia, market sources said.

S-Oil, on the other hand, reiterated its November PX ACP offer of $1,395/tonne CFR Asia, with validity extended to 20:00 South Korean time (11:00 GMT).

($1 = €0.73)