State-owned China Petroleum and Chemical Corp., or Sinopec, this week nominated its January contract price for paraxylene at Yuan 7,200/mt, equivalent to about $868/mt on an import parity basis based on an exchange rate of 6.9497, market sources said Friday. The January PX nomination was up Yuan 330/mt from the December settlement of Yuan 6,870/mt.
The internationally negotiated Asian Contract Price for PX settled earlier this week at $850/mt for January.
