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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We offer the following regional Paraxylene-Orthoxylene coverage to keep you informed of factors and developments affecting prices in the Asia Paraxylene-Orthoxylene marketplace.
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Updated to Q3 2018
Supply was restricted within the region on unplanned outages. Smooth operations were still unable to be achieved at both the new PX facilities that were started up in this year. In addition, a typhoon that occurred in northeast Asia had impacted operating rates at JXTG Nippon Oil & Energy’s PX facilities. A last minute scheduled maintenance at South Korea’s Hanwha Total PX unit further tighten supply. There were also several planned maintenance at Taiwan, South Korea and Japan which restricted supply.
Demand was spurred by healthy margins seen in the downstream purified terephthalic acid (PTA) markets. A firm PTA market led to prices seeing a strong increase from the middle of the quarter. PX inventories at end users were also low. End users have typically kept inventories low within the year, to minimise the risk of inventory losses due to an uncertain global macroeconomic and a volatile energy market.
In the key China market, orthoxylene (OX) is in oversupply. As a result, key domestic producers were lowering their OX list prices towards the end of the quarter. Even so, this did little to spur buying interest as most buyers were meeting their requirements with contractual volumes. Shore tank inventories in East China remained largely stable during the quarter. Meanwhile, most producers still prefer to produce more paraxylene (PX) compared with co-product OX. There is more demand for the former, and hence it is more lucrative.
Trading activities in the key China market were fairly subdued as interest remained limited due to high domestic inventories. As a result, discussions and interest in imported OX product remained low among Chinese buyers. Meanwhile, most buyers in southeast Asia and India are relying on contractual volumes to meet their OX requirements as producers are producing more paraxylene (PX) compared with co-product OX. There is more demand for the former and hence, it is more lucrative.
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.