ExxonMobil has nominated its July Asian paraxylene contract price at $1,030/mt CFR Asia, market sources close to the discussions said Wednesday.
The spot PX CFR Taiwan/China marker was assessed at $961.67/mt Tuesday, with the average June assessment so far at $975.02/mt, S&P Global Platts data showed.
The negotiations for the April, May and June ACP failed to reach a settlement, with the bids and offers far apart. The March ACP, the last major settlement, was agreed at $975/mt.
There are five PX ACP sellers in Asia: Japanese companies JXTG Nippon and Idemitsu Kosan, South Korean companies S-Oil and SK Global Chemical, and US major ExxonMobil.
Typically there have been seven ACP buyers: BP, Taiwan's Capco and Oriental Petrochemical (Taiwan) Corp, Japanese companies Mitsui Chemicals and Mitsubishi Chemical, and China's Yisheng Petrochemical and Jiangsu Shenghong Chemical Fiber Co.
