India's Reliance nominates October PX ACP at $650/mt CFR Asia: source

Singapore — India's Reliance has nominated its October paraxylene Asia Contract Price at $650/mt CFR Asia, unchanged from its nomination for September PX ACP, a source close to the matter told S&P Global Platts Sept. 28.

There are six PX ACP sellers in Asia: Japan's ENEOS Corp. and Idemitsu Kosan, South Korea's S-Oil and SK Global Chemical, ExxonMobil, and India's Reliance.

Typically, there have been seven ACP buyers: BP, Taiwan's Capco and Oriental Petrochemical (Taiwan) Corp., Japan's Mitsui Chemicals and Mitsubishi Chemical, and China's Yisheng Petrochemical and Jiangsu Shenghong Chemical Fiber Co.

The last major settlement was on Aug. 30, 2019 for the September 2019 contract at $780/mt CFR Asia.