April PX ACP talks to start with counter bids expected $150/mt below nomination

摘要

Tokyo — Negotiations for the April Asian Contract Price of paraxylene are expected to start later Wednesday, with buyers likely placing their counter bids more than $150/mt below the nomination prices, sources close to the negotiations said. There are four ACP sellers in Asia — ExxonMobil, Idemitsu Kosan, JX Nippon Oil and Energy and S-Oil. On Monday, ExxonMobil nominated its ACP for April at $1,670/mt CFR, while Idemitsu, JX and S-Oil nominated their ACPs at $1,650/mt late last week. The sellers settled their respective ACPs for March at $1,650/mt CFR.