ExxonMobil has nominated its July Asian paraxylene contract price at $1,030/mt CFR Asia, market sources close to the discussions said Wednesday.
The spot PX CFR Taiwan/China marker was assessed at $961.67/mt Tuesday, with the average June assessment so far at $975.02/mt, S&P Global Platts data showed.
The negotiations for the April, May and June ACP failed to reach a settlement, with the bids and offers far apart. The March ACP, the last major settlement, was agreed at $975/mt.
There are five PX ACP sellers in Asia: Japanese companies JXTG Nippon and Idemitsu Kosan, South Korean companies S-Oil and SK Global Chemical, and US major ExxonMobil.
Typically there have been seven ACP buyers: BP, Taiwan’s Capco and Oriental Petrochemical (Taiwan) Corp, Japanese companies Mitsui Chemicals and Mitsubishi Chemical, and China’s Yisheng Petrochemical and Jiangsu Shenghong Chemical Fiber Co.
–Rohan Menon, rohan.menon@spglobal.com
–Edited by Pankti Mehta, pankti.mehta@spglobal.com
Related Topics
-Asian PX-MX spread hits 8-month low amid firm isomer-MX, sluggish PX – The spread between paraxylene and feedstock isomer-grade mixed xylene in Asia has reached its lowest level in eight months due to increased demand for MX for gasoline blending and sluggish PX demand – Asian PX MX spread sluggish PX
-ExxonMobil announced the May contract price of paraxylene at USD1,030 per tonne – ExxonMobil May contract price paraxylene
-China’s Hengli aims to start first PX line in Nov, after refinery starts – China’s Hengli Petrochemical plans to start test runs at one of its two new paraxylene production lines in Dalian, Liaoning province, in November – China Hengli PX line
-SKGC and JXTG announced the May price of paraxylene at USD1,040-1,050 per tonne – JXTG Nippon Oil & Energy (part of Nippon Oil Corporation), a major petrochemical producer in Japan, and SK Global Chemical (SKGC), one of the largest petrochemical producers in South Korea, announced the May contract the price of paraxylene for supplies to Asia at the level of USD1 040-1 050 per ton – SKGC JXTG May price paraxylene
-US April PX CP slips as feedstock MX prices surge on supply, demand – The US April paraxylene contract price was heard settled Friday at 48 cents/lb, sources said Friday – USA April PX CP supply demand
-Paraxylene prices in Asia rose – The spot prices of paraxylene in Asia rose amid the growth in the market of terephthalic acid (TPA) – Paraxylene prices Asia
