South Korea's SK Global Chemical and Japan's JXTG Nippon nominated the November paraxylene Asian Contract Price at $910/mt and $950/mt CFR, respectively, Thursday, company sources said.
Negotiations for the October ACP failed to result in a settlement, although the September ACP negotiations resulted in a major settlement at $820/mt, up $10/mt from the August settlement.
There are five PX ACP sellers in Asia -- Japan's JXTG Nippon Oil and Energy and Idemitsu Kosan, ExxonMobil, and South Korea's S-Oil and SK Global Chemical.
Up to now there have been seven ACP buyers: BP, Taiwan's Capco and Oriental Petrochemical (Taiwan) Corp., Japan's Mitsui Chemicals and Mitsubishi Chemical, and China's Yisheng Petrochemical and Jiangsu Shenghong Chemical Fiber Co.
