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No major PX settlements reached in Asia for 10th month

by ChemOrbis Editorial Team - content@chemorbis.com
  • 08/12/2014 (15:28)
Buyers and sellers have not reached any major PX settlements for December in Asia due to volatile crude oil prices, according to market sources. Previously, four producers nominated their contracts for December while later three of them later revised their nominations downward. The last PX settlement in Asia was in January at $1415/ton CFR Asia.

Japan’s JX Nippon Oil and Energy revised its December PX nomination down $110/ton to $970/ton CFR Asia while another Japanese producer, Idemitsu Kosan, cut its initial nomination by $100/ton to $980/ton CFR Asia. Meanwhile, ExxonMobil lowered its Asian PX nomination for December by $140/ton to $940/ton CFR Asia.
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