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.
Our network of price reporters delivers direct and regular insights into the local markets they work in.
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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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The spot prices of paraxylene (PX) started to trend downwards since the middle of January, faster than expected by most of the market participants. The majority of the market players anticipated PX prices to be under pressure only in the second-half of the year because of new capacities expected to come on stream by then.
Moreover, the PX Asian Contract Price (ACP) for January was settled at $1,415/tonne CFR Asia, signalling to majority of the market that prices are likely to remain firm.
However, underperformance in the downstream purified terephthalic acid (PTA) and polyester markets have added a downward pressure on feedstock PX prices during the quarter.
Furthermore, supply and demand conditions were largely described as long, especially with the majority of end-users sitting on ample inventories. However, PX prices started to rebound towards the end of the quarter, as several PX makers adjusted down their operating rates at their facilities to balance the supply conditions.
In addition, improvement in demand and prices in the downstream sectors had also helped to support the uptrend rally in PX prices.
Updated to Q1 2014
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.
Demand for downstream products from buyers in the key China region was heard to have been poor since the last week of January. Several PA makers were heard to have reduced operating rates at their facilities, further reducing demand for feedstock OX products.
Updated to Q1 2014
The average spot prices of orthoxylene (OX) in east China decreased from yuan (CNY) 10,675/tonne on 2 January to CNY9,050/tonne on 13 March. The prices then increased a little to CNY9,150/tonne on 17 March, and remained largely stable for the rest of the month.
The OX prices were on a downtrend for the large part of the quarter because of weak demand from the end-users. The market confidence was bearish with few buying ideas, which led domestic producers to lower their offers six times amid inventory pressure
From mid-March, the OX prices were stable at around CNY9,150/tonne as the end-users purchased to fulfil their contractual commitments and the inventory of suppliers was not so high.
Updated to Q1 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.