Paraxylene producers make October ACP offers

OREANDA-NEWS. Three of the five Asia Contract Price (ACP) paraxylene (PX) producers have offered contract prices for October.

Japan's JX Nippon Oil & Energy and Korea's SK Global Chemical offered at \\$850/t and \\$830/t respectively yesterday, while Korea's S-Oil offered at \\$830/t cfr today.

There have been no offers so far from the two other ACP-linked producers, Japan's Idemitsu Kosan or ExxonMobil.

The five producers can make offers to six ACP-linked buyers: Zhejiang Yisheng Petrochemical, Mitsubishi Chemical, Mitsui Chemical, Oriental Petrochemical Taiwan, BP and Capco.

The ACP has only been settled twice this year, in February and May, despite the price being an important component in most long-term contracts in Asia-Pacific. The PX ACP failed to settle in 10 of the 12 rounds of negotiations last year.