ExxonMobil on Monday nominated its June paraxylene Asia Contract Price at $840/mt CFR, up $20/mt from its last May nomination of $820/mt, sources close to the negotiations said.
The other four ACP sellers Japan’s Idemitsu Kosan and JX Nippon Oil & Energy, and South Korea’s S-Oil and SK Global Chemical, made their nominations last week at $820/mt, $840/mt, $830/mt and $830/mt, respectively.
There were no settlements in May. The ACP reached major settlements in February, March and April at $710/mt, $725/mt and $795/mt, respectively.
There are six ACP buyers: BP, Taiwan’s Capco and Oriental Petrochemical (Taiwan) Corp., Japan’s Mitsui Chemicals and Mitsubishi Chemical, and China’s Yisheng Petrochemical.
