May PX contracts nominated in Asia
Market sources report that Asian PX producers have begun to nominate their May PX contracts to the region. Accordingly, Japan’s Idemitsu Kosan and JX Nippon Oil & Energy announced their PX new contracts at $860/ton CFR Asia, up $65/ton from the April settlement of $795/ton while ExxonMobil and South Korea’s SK Global Chemical nominated their new contract to Asia at $850/ton CFR, up $55/ton from April.
Meanwhile, another South Korean producer, S-Oil announced its May PX contract at $855/ton, up $60/ton from April.
In Asia, spot PX prices are now reported at around $795/ton FOB Korea, up $35-40/ton on the week.