Asia p-xylene contract price fails to settle for third consecutive month

摘要

There is no settlement for the para-xylene (p-xylene) June Asia contract price, making it the third consecutive month of non-settlement, parties involved in the negotiation process told IHS Markit late Thursday. Initial ofers were posted at $1,080–1,130/metric ton CFR Asia but dropped to $1,020/metric ton against the best bid heard at $1,000/metric ton. An uncertain outlook on energy prices was again cited as one of the reasons for failing to reach a conclusion. Brent crude prices have been volatile in May, hitting as high as $79/bbl and pushing up naphtha prices.