China’s Jiangsu Shenghong plans to join PX contract talks
According to market sources, China’s Jiangsu Shenghong is planning to permanently join PX contract price negotiations in Asia by early July. The producer has a 1.5 million tons/year PTA plant in Lianyungang province.
Japan’s Idemitsu Kosan and JX Nippon Oil and Energy, ExxonMobil, and South Korea’s S-Oil and SK Global Chemical are PX contract sellers in Asia while BP, Taiwan’s Capco and Oriental Petrochemical, Japan’s Mitsui Chemicals and Mitsubishi Chemical and China’s Yisheng Petrochemical form the buyer side of the negotiations.