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February PX contracts settle in Asia

by ChemOrbis Editorial Team -
  • 01/02/2016 (13:50)
Market sources reported that two Asian PX producers and two buyers reached a major settlement for the February contract. Accordingly, Japan’s Idemitsu Kosan and ExxonMobil settled their February contracts at $710/ton CFR with China’s Yisheng Petrochemical and BP. The last major settlement for the Asian PX contract had been reached at $780/ton CFR in November.

Previously, Japan’s Idemitsu announced its February PX contract at $750/ton CFR and ExxonMobil nominated its February PX contract to Asia with a decrease of $10/ton from January at $740/ton CFR.

In Asia, spot PX prices are currently reported at around $720/ton FOB Korea, up approximately $30/ton from a week earlier.
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