Producers nominate June PX contracts to Asia
Market sources report that Japan’s Idemitsu, South Korea’s SK Global Chemical and Japan’s JX Nippon Oil & Energy have nominated their June PX contracts to Asia. Accordingly, JX Nippon Oil & Energy and Idemitsu announced their new PX contracts with an increase of $20/ton from their May nominations at $840/ton and $820/ton CFR, respectively.
SK Global Chemical, meanwhile, nominated its June PX contract with a smaller increase of $10/ton from its latest May nomination at $820/ton CFR.
In Asia, spot PX prices are now reported at around $760/ton FOB Korea, down approximately $20/ton from a week earlier.