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Japan’s Idemitsu, JX Nippon drop out of Sep PX contract talks

by ChemOrbis Editorial Team -
  • 31/08/2015 (17:31)
According to market sources, Japan’s Idemitsu Kosan and JX Nippon Oil & Energy have withdrawn from negotiations for the September PX contract in Asia. The two producers reportedly lowered their initial announcements to $760/ton and $770/ton CFR, respectively, while no major settlement has been reached so far. Idemitsu lowered its initial nomination by $20/ton while JX Nippon’s cut represented a $40/ton reduction from its first announcement for September.

The last major settlement for the Asian PX contract was concluded in May at $925/ton CFR.
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