Nominations by Asian paraxylene producers for the Asian Contract Price negotiations for July have so far been made in the range of $815-$840/mt, a day before the expected conclusion on Friday, market sources said on Thursday.
The sharpest nomination so far has been made by Japan's Idemitsu Kosan, at $815/mt, down from its initial nomination of $900/mt last week, sources close to the negotiations said.
Exxonmobil and South Korea's S-Oil Corp. both made their nominations at $830/mt, while Japan's JX and South Korea's SK Global Chemical made theirs at $840/mt, sources said.
So far, no counter bids have been heard.
Negotiations for the June paraxyleneACP ended without a major settlement. This is the second time this year the ACP has not resulted in a major settlement, after the May negotiations also fell through.
