No major settlement for Asia November PX ACP

Samuel Wong

31-Oct-2013

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)

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