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Updated to Q4 2016
Paraxylene (PX) contracts in the US ended the fourth quarter with a 1.5 cents/lb ($33/tonne) increase in December. The December settlement followed two 0.5 cents/lb increases for October and November. Contract prices rose during the quarter from 39.5 cents/lb to a high of 42.0 cents/lb. The PX price movements during the quarter were attributed to upstream mixed xylenes (MX) price movements. PX spot prices in the US rose steadily during the quarter in accordance with market movements in Asia. Spot prices started the quarter at 33.18-33.45 cents/lb and ended the quarter at 36.47-36.65, based on a formula. There were no communicated supply or demand issues throughout the quarter in the US PX markets. PX is used to make purified terephthalic acid (PTA), which goes into polyethylene terephthalate (PET), which is used to produce beverage bottles, among other uses. PTA is also used in the production of polyester fibre.
Updated to Q4 2016
Orthoxylene (OX) contracts in the US ended the fourth quarter on a split settlement in December. Contract prices rose during the quarter from 35 cents/lb to a split settlement of 35-37.5 cents/lb. The first settlement was lower before OPEC's decision to cut crude oil output, which sent crude oil markets upwards and led to the second confirmed December OX settlement going higher. The OX price movements during the quarter were attributed to upstream mixed xylenes (MX) price movements. Downstream, demand for phthalic anhydride (PA) remained firm throughout the quarter. OX spot prices in the US rose steadily during the quarter in accordance with market movements in Asia. Spot prices started the quarter at 29.37-30.28 cents/lb and ended the quarter at 35.06-35.29, based on a formula. OX markets in the US throughout the quarter saw no communicated supply or demand issues. OX is used to make PA in the US, which is used as an intermediate in plasticizers.
The paraxylene (PX) report is a weekly snapshot of the market. There are two price ranges in the ICIS report for US Gulf (USG) PX.
The first is the contract price that is settled between major buyers and sellers every month.
The other range is the spot price, which is assessed on a free-on-board (FOB) basis and can move around from week to week.
ICIS talks to US suppliers about production issues and we also talk to buyers about trends in demand.
Additionally, traders, exporters and other consumers of this report are consulted to get relevant feedback on what is happening in the market.
The ICIS PX report is a timely and relevant publication for USG information.
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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