Petrotahlil - Asia Contract Price (ACP)-linked paraxylene (PX) producers have submitted their offers for the November benchmark price.
Japan's Eneos and Idemitsu Kosan each offered at $640/t cfr. South Korea's S-Oil offered at $635/t cfr and SK Global Chemical proposed at $630/t cfr. Singapore's ExxonMobil offered at $650/t cfr.
Negotiations for the November ACP are due to be finalised today.
The six ACP-linked buyers are China's Yisheng and Shenghong, BP, Taiwan's Capco and OPTC, along with Japan's Mitsui Chemicals.
The October ACP failed to settle for the 13th straight month because of a wide bid-offer gap, as well as squeezed production margins.
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Source : Argus