State-owned China Petroleum and Chemical Corporation, or Sinopec, settled its May contract price for paraxylene at Yuan 6,260/mt this week, up Yuan 60/mt from its April settlement, market sources said.
Based on an exchange rate of Yuan 6.5693 to the dollar, the May CP settlement is equivalent to about $799/mt on an import parity basis.
May was initially nominated at Yuan 6,300/mt.
Platts last assessed PX at $780.33/mt CFR Taiwan/China Wednesday, down $0.34/mt on the day.
