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April PX contracts settle in Asia

by ChemOrbis Editorial Team - content@chemorbis.com
  • 03/04/2017 (11:41)
Market sources reported that two Asian PX producers reached a major settlement for the April contract. Accordingly, two producers, JX Nippon and ExxonMobil settled their April PX contracts at $835/ton CFR. This is down by $70/ton from the March contract.

JX Nippon had nominated its contract price at $905/ton CFR and later revised it to $870/ton CFR while ExxonMobil had announced the April contract price at $910/ton. The producers’ contract settlement implies a $35/ton and $70/ton decrease from their nomination levels respectively.

In Asia, spot PX prices were last reported at $815/ton, down $8/ton from a week earlier and down $80/ton from early March.
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