Japan's Idemitsu Kosan on Thursday nominated the July paraxylene Asia Contract Price at $1,090/mt CFR Asia, a source close to the company said, down $30/mt from its last nomination for June, which did not have a settlement.
The spot PX CFR Taiwan/China marker was assessed at $983.67/mt on Wednesday, up $22/mt day on day, S&P Global Platts data showed.
The lowest nomination so far is ExxonMobil's at $1,030/mt, followed by South Korea's SK Global Chemical at $1,040/mt, and both Japan's JXTG Nippon Oil & Energy, and, South Korea's S-Oil, at $1,100/mt.
Negotiations for the April, May and June ACPs failed to result in a settlement, with the bids and offers far apart. The March ACP, the last major settlement, was agreed at $975/mt CFR.
There are five PX ACP sellers in Asia: JXTG Nippon Oil & Energy, Idemitsu Kosan, S-Oil, SK Global Chemical, and ExxonMobil.
Typically, there are seven ACP buyers: BP, Capco and Oriental Petrochemical (Taiwan) Corp., Japanese companies Mitsui Chemicals and Mitsubishi Chemical, and China's Yisheng Petrochemical and Jiangsu Shenghong Chemical Fiber.
