No major PX settlement reached in Asia for June
by ChemOrbis Editorial Team - content@chemorbis.com
Buyers and sellers have not reached any major PX settlements for June in Asia due to the wide gap between buy and sell ideas. Three producers had nominated contracts for June while two of them later revised their nominations downward. The last PX settlement in Asia was in May at $925/ton CFR.
Japan’s JX Nippon Oil and Energy revised its June PX nomination down twice, bringing their cumulative decrease of $50/ton to $910/ton before the company finally exited negotiations, according to sources. Another Japanese producer, Idemitsu Kosan, also cut its initial nomination by $30/ton to $920/ton CFR Asia.
Japan’s JX Nippon Oil and Energy revised its June PX nomination down twice, bringing their cumulative decrease of $50/ton to $910/ton before the company finally exited negotiations, according to sources. Another Japanese producer, Idemitsu Kosan, also cut its initial nomination by $30/ton to $920/ton CFR Asia.
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