State-owned China Petroleum and Chemical Corp., or Sinopec, settled its December contract price for paraxylene at Yuan 6,015/mt on Wednesday, down Yuan 35/mt from its November settlement, market sources said Wednesday.
Based on an exchange rate of 6.4746, the December CP settlement is equivalent to about $778.50/mt on an import parity basis.
December was initially nominated at Yuan 6,100/mt in late November.
Platts assessed PX at $765/mt CFR Taiwan/China Tuesday.
