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China’s Sinopec settles July PX contract

by ChemOrbis Editorial Team -
  • 23/07/2015 (10:35)
According to market sources, China’s Sinopec has settled its July PX contract. The producer’s new settlement stands at CNY6550/ton ($914/ton without VAT), down CNY400/ton ($66/ton) from June.

Sinopec had earlier revised its initial PX nomination for July downward from CNY7000/ton ($977/ton without VAT) to CNY6700/ton ($935/ton without VAT).

In Asia, spot PX prices rose slightly on the week to be currently reported at around $850/ton on an FOB South Korea basis.
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