S-Oil settles 2020 term PX contract
South Korea's S-Oil has settled its first term 2020 paraxylene (PX) contract, which includes an Argus cfr Taiwan/China component, with China's Shenghong Petrochemical.
The pair have agreed on a discount of $2/t against a 50pc Asia Contract Price (ACP), 50pc spot cfr Taiwan/China assessments formula for an undisclosed volume termed as an "ACP portion". The 50pc spot calculation will be on a 35pc Argus, 35pc Icis and 30pc Platts pricing basis.
The two companies also concluded an undisclosed volume of PX at a 50¢/t discount to the same formula termed as a "non-ACP portion".
This marks a switch from previous contracts that were almost exclusively priced against Platts cfr Taiwan/China spot assessments.
Term 2019 ACP portion contracts were mostly settled at a $2/t discount to the 50pc ACP, 50pc Platts cfr Taiwan/China assessments formula, while the non-ACP portion was settled at a 50¢/t discount to the same formula.
By Suzi Shin
source: Argus Media
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
