Three PX producers cut July nominations to Asia
According to market sources, Japan’s JX Nippon Oil & Energy, Idemitsu and South Korea’s SK Global Chemical cut their July PX nominations to Asia. Both JX Nippon and Idemitsu lowered their initial contract announcements by $20/ton to $830/ton CFR. SK Global, meanwhile, lowered its initial nomination by $30/ton to $820/ton with the same terms.
In Asia, no major PX settlement was reached in May and June. In April, the last major settlement was agreed at $795/ton CFR.