Asia PX producers table offers for March ACP
Paraxylene producers linked to the Asia contract price (ACP) have submitted their offers for the March benchmark price.
South Korea's SK Global Chemical, S-Oil and Japan's JXTG Nippon and Energy have tabled offers at $840/t, lower by $60/t from the February benchmark. ExxonMobil offered at $850/t cfr and Idemitsu Kosan offered at $820/r.
Negotiations for the March ACP are due to be finalised on 27 February, as it will be a public holiday in Taiwan on 28 February.
The Feburary benchmark ACP failed to settle amid a wide bid-offer gap. Bids were at $680-700/t cfr against offers at $900-920/t cfr.
There are six buyers—OPTC, Capco, Yisheng Petrochemicals, Shenghong Petrochemicals, Mitsui Chemicals and BP.
By Suzi Shin
source: Argus Media
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