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Updated to Q1 2018
The US paraxylene (PX) market saw steady supply levels during the first quarter amid lower seasonal demand for material and uncertainty in the downstream polyethylene terephthalate (PET) market. Prices were on an uptrend throughout most of the quarter. However, contracts settled slightly down during March. The spot market also saw falling prices during March on weakened sentiment in Asia from the downstream purified terephthalic acid (PTA) market.
Demand in the US PX market was largely marked by downstream uncertainty in the PTA and PET markets. Production was reduced throughout the Americas at PTA and PET plants amid the bankruptcy proceedings and financial troubles of PET producer Mossi & Ghisolfi (M&G). Therefore, demand was muted for raw material PX. Some export activity was seen to Asia.
Updated to Q1 2018
The US orthoxylene (OX) market was steady during the first quarter with no known issues to supply. Supply was sufficient to meet needs in downstream markets for phthalic anhydride (PA) and plasticizers, which saw lower demand on seasonality. Prices during the quarter were impacted by rising prices for feedstock mixed xylenes (MX). OX settled higher in February after three months of rollovers, but settled lower again in March as the MX market tracked lower prices.
The downstream phthalic anhydride (PA) and plasticizers markets were still in slow seasons during the first quarter. However, demand for OX was heard to be healthy amid a strong start to 2018. Economic optimism and robust demand in the construction sector drove an upbeat mood in the PA and plasticizers markets. OX is a small portion of the chemical demand for mixed xylenes (MX) with paraxylene (PX) being the primary driver of chemical demand for MX.
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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