Paraxylene-Orthoxylene Prices, markets & analysis
ICIS price reporting for regional Paraxylene-Orthoxylene markets is unparalleled in its ability to keep you on top of the information you need.
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Paraxylene-Orthoxylene Asia Transcript
ICIS publishes both a daily and a weekly report for paraxylene or PX, in Asia as well as assessments for the cost and freight (CFR) Taiwan and China main port (CMP) price. The report also includes the monthly Asia contract price (ACP) as well as the China domestic delivered quote.
Information in the weekly report includes details of all spot transactions, bids and offers as wells an in-depth discussion of demand-supply fundamentals and any current production problems.
The PX daily and price alert service help subscribers keep on top of all the latest market moves.
ICIS engages with a wide cross-section of market players: producers, traders and consumers in order to eliminate bias and to ensure accurate price assessments that provide useful benchmarks for the industry.
In this way the ICIS CFR Taiwan and China main port quotes as well as the published Asia contract price is used for contract settlement by a growing number of market players.
Together with paraxylene, ICIS provides coverage on the orthoxylene or OX stream. Prices for the free on board (FOB) and CFR northeast Asia markets as well as assessments for the CFR India and southeast Asia are also provided together with prices of isomer grade xylene, paraxylene and phthalic anhydride. This provides our subscribers with a comprehensive view of the upstream, downstream and related products market.
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Updated to Q3 2014
There was no major settlement for the paraxylene (PX) Asian
Contract Price (ACP) for the months of July, August and September because of
differing market outlook views held by both suppliers and buyers.
Domestic contract prices in the key China markets were on a
downtrend in the third quarter of 2014. July contract prices in the country
stood at yuan (CNY) 10,700/tonne before falling to CNY9,150/tonne in September.
Softening upstream crude and naphtha values, coupled with
prevailing weak downstream demand in the purified terephthalic acid (PTA)
sectors, have added downward pressure on spot PX prices during the quarter.
Furthermore, additional cargoes coming in from Europe and
the US for both September and October loading cargoes have further depressed
market conditions. Asian spot PX prices in July stood at an average of around
$1,423/tonne CFR (cost & freight) Taiwan and/or China Main Port (CMP), before
falling to $1,258/tonne CFR Taiwan and/or CMP in
September amid the lack of interest by end-users to build up inventories. Slow
offtake rates in the polyester sectors have led to lower operating rates at
downstream PTA facilities.
In Asia, spot prices for orthoxylene (OX) material started the year on a downward trend with no recovery in sight.
Regional supply was said to be tight as several regional producers had cut back production output on the back of high feedstock isomer-grade xylene costs and poor offtake rates of co-product paraxylene (PX) material from end-users.
There was little buying interest seen from phthalic anhydride (PA) makers who cited negative margins, with feedstock OX prices constantly higher than PA prices.
Furthermore, several end-users casted a bleak outlook for the downstream plasticizer sector as poor global macroeconomics, tightening credit measures and a depreciating Chinese yuan added to the bearish sentiment.
The average spot prices of orthoxylene (OX) in East China were stable from CNY 9,275/tonne from 1 April to 5 May. The price decreased from CNY 9,150/tonne on 6 May to CNY 8,575/tonne on 9 June. Afterwards, the price increased from CNY 8,600/tonne on 10 June to CNY 9,050/tonne on 27 June.
From 1 April to 5 May, the market was stable around CNY 9,275/tonne for the end-users maintained contracts to produce and the inventory of suppliers was not so high, so their prices were stable.
OX market prices have decreased between 5 May and 9 June on weak demand from end-users. Domestic producers decreased their offer three times because of inventory pressure. The price decreased from CNY 9,200/tonne to CNY 8,500/tonne, making domestic confidence weak.
From mid-June, domestic prices increased. During that time, Yangzi Petrochemical’s units ran at a lower rate, about 30-40%, on short raw materials supply. At the same time, some deals from end-users made market prices increase.
Updated to Q2 2014
ICIS publishes both a daily and weekly report for paraxylene (PX) in Asia as well as price assessments for the cost and freight (CFR) Taiwan and China Main Port (CMP) markets.
The report includes the monthly Asia contract price (ACP) as well as the Chinese domestic-delivered quote.
Information in the weekly report also includes details of all spot transactions, bids and offers, as well as an in depth discussion of demand-supply fundamentals and any production problems.
The PX daily and price alert service helps subscribers keep on top of the latest market price movements.
ICIS engages with a wide cross-section of market players, producers, traders and consumers to eliminate bias and ensure accurate price assessments that provide a useful benchmark for the industry.
In this way, the ICIS CFR Taiwan and CMP quote, as well as the published ACP, is used for contract settlement by a growing number of market players.
Prices for the free on board (FOB) or CFR Asia markets, as well as assessments for CFR India and southeast Asia (SE Asia), are provided together with prices for isomer grade xylene, PX and phthalic anhydride (PA).
This provides our subscribers with a comprehensive view of conditions in the upstream, downstream and related products market.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Paraxylene-Orthoxylene. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
Our time series of pricing data enables you to build and model trends, to get a view of where markets might be heading. The data service includes charting functionality, allowing you to chart and download multiple data series for manipulation in your own internal models. You can also export data to Excel via the ICIS dashboard service.
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ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Paraxylene-Orthoxylene, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.