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Home Commodities Chemicals Paraxylene-orthoxylene Paraxylene-Orthoxylene prices, markets & analysis

Paraxylene-Orthoxylene prices, markets & analysis

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The Paraxylene-Orthoxylene (PX-OX) markets are covered by ICIS’ network of locally-based reporters in Asia, Europe and the US. The weekly reports bring you in-depth news on spot on contract markets and analysis in the commentary provides intelligence on developments in market activity, upstream movements, production news and graphs.

These are an essential tool for those involved in the industry to keep abreast of market movements and make crucial commercial choices.

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Market Overview

Updated to Q4 2020

Paraxylene

Asia

New capacity and limited scheduled maintenance shutdowns kept supply more than sufficient in the quarter. China’s Dongying Weilian Chemical’s new 1m tonne/year PX facility started up at start of the quarter, while operating rates across the region increased marginally, on the back of production margins recovery from chemical reformer units. During the quarter, the region saw a production loss of around 842,300 tonnes as a result of maintenance shutdowns.

Downstream PTA production saw a loss of around 1.34m tonnes due to several shutdowns, with around 138,000 tonnes of PTA production loss coming from unplanned shutdowns. A 1.34m tonnes PTA production loss is equivalent to around 910,800 tonnes of PX demand loss. PTA operating rates in China were slightly lower during the quarter at an average of 84%, compared to 85% in the previous quarter.

Europe

European supply of PX remained more than ample throughout Q4, even though producers reduced production rates during periods of low demand, according to sources. Weak demand limited pressure on the supply of material.

Demand for PX remained weak during Q4, as it had been for much of the year. Activity was limited to contractual business as low demand and a wide gap between buy and sell-side price ideas meant little spot activity.

US

Despite poor margins in the US, PX supply increased, as a two-month shortage of co-feedstock MEG significantly reduced downstream run rates. In addition, imports surged – particularly from Saudi Arabia and India, amid weak polyester fibre demand and an oversupplied Chinese market. Vast new capacity in China also contributed to the influx of imports into the US east coast, as volumes previously intended for Asian polyester fibre production required new outlets.

Following the two-month MEG shortage, which resolved in mid-Q4, downstream PET run rates resumed their previous high levels amid strong demand for food and hygiene-product packaging.

Updated to Q4 2020

Orthoxylene

Asia

Supply was largely unchanged outside of China, with operating rates at existing facilities being kept unchanged amid squeezed production margins. On-going shutdowns at a facility located in Singapore kept supply snug within southeast Asia. Within China, inventories in east China were more than sufficient, at around 30,000 tonnes and above, while supply domestically was ample with the restart of a facility located in Hainan.

Demand improved as end-users purchased more spot cargoes amid a higher trending upstream energy market. Furthermore, improvement in the downstream plasticizers and construction sector kept run rates of PA facilities high, increasing the requirement for feedstock OX.

Europe

The supply of OX was generally balanced during Q4. No production issues were heard and there was sufficient domestic and imported material to satisfy demand.

Demand for OX was robust during the Q4 although any buying appetite was largely limited to contract business. Demand from the key automotive sector – which was hit hard by the coronavirus pandemic earlier in 2020 – had largely recovered by the end of the year.

US

Run rates dropped to three-year lows, due to poor extraction economics. Imports rose by about one-third in 2020, but overall supply was lower than in previous years amid lacklustre demand. Logistics issues following Hurricanes Laura and Beta in the Gulf Coast also caused supply issues while ports were restricted.

Although exports increased in late summer/early autumn during the three-month maintenance closure of the key Illinois river – which connects US Gulf OX producers with consumers in the Chicago area – demand was still well below normal levels.

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Paraxylene-Orthoxylene news and market information products from ICIS

We offer the following regional Paraxylene-Orthoxylene analysis and news coverage to keep you informed of factors and developments affecting prices in the Paraxylene-Orthoxylene marketplace.

Price reporting

  • More information about the price reports we publish on Paraxylene-Orthoxylene
    Independent price assessments and market coverage by region

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Price history

  • More information about the historical price data we publish on Paraxylene-Orthoxylene
    Track historical price data

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News & analysis

  • News & market analysis specifically relating to Paraxylene-Orthoxylene
    Breaking news of latest developments affecting the markets. Insight and analysis of factors driving prices.
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Regional price assessments, published daily or weekly, enabling you to keep track of trading prices, understand price drivers/fluctuations and set a benchmark for contract price settl ements. ICIS offers reports on over 180 commodities across the global petrochemical, energy and fertilizer markets. Information covered in our price reports includes:

  • Spot and contract price assessments
  • Market commentary on trends and developments
  • Transactions reported and confirmed
  • Plant and production news

Information is accessed online, via the ICIS dashboard service and is configurable to suit your preferences.

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Price forecast services

Produced by the ICIS Consulting team, these reports give a robust rolling 12-month price forecast, trade balances and in-depth analysis into where markets are heading – providing a valuable tool to support your short- to medium-term plans.

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Dashboard – Easy access to ICIS pricing data

ICIS pricing intelligence is delivered to you online via the ICIS dashboard. Here you can view your reports and also access other useful services including related news, analysis, historical data and market alerts.

ICIS dashboard also makes it easy for you to create pricing charts, download price history and export data to create tailored analytical models.

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ICIS weekly margin reports deliver the detail you need to understand how production costs and prices are affecting margins, enabling you to judge the likely impact on your business and optimise your upstream and downstream business decisions.

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The Supply and Demand Window on the ICIS Dashboard provides a snapshot view of historical and forecast information for supply and demand, production capacity and trade flows – a key tool to help safeguard future investments within the chemicals market.

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24-hour global coverage of breaking news in the petrochemical industry, including updates on production, shutdowns and key transacted deals, keeping you informed of market developments as they happen. The ICIS news service allows you to customise the market alerts delivered to your email inbox, providing the business-critical information you need straightaway.

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If you want to keep updated on the factors driving price movements in the global chemical markets, ICIS Chemical Business provides a summary of the information you need to support your business decisions. Every week, our global team of experts digests and summarises the key issues and their potential impact on the market – all in one magazine.

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An expert view of supply and demand comprising four fully-reconciled databases, giving you access to extensive data for more than 100 markets. Information is included on global and regional trade flows, production, capacity and sources of demand in the short-, medium- and long-term. Data can be downloaded, customised and queried to support your planning requirements and your strategic decisions.

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ICIS expert consultants can provide your organisation with the insight, intelligence and data needed to build and grow your business in China. We can help you to gain a clear view on the short and long-term supply and demand picture in the chemicals, energy, iron and steel, non-ferrous metals and paper and pulp markets in China.

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Methodology

Paraxylene Methodology Consultation read more >

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.

Para Ortho xylene Methodology

Paraxylene (PX) is the largest volume isomer of the mixed xylenes. Orthoxylene (OX) is the second largest of the three commercial isomers of xylene.

Read More

About Paraxylene-Orthoxylene

PARAXYLENE

Paraxylene (PX) is the largest volume isomer of the mixed xylenes. Around 98 percent of PX demand comes from the polyester chain via the one of its intermediates purified terephthalic acid (PTA) or dimethyl terephthalate (DMT). The breakdown for polyester demand is 65 percent from fibre, 27 percent from polyethylene terephthalate(PET) bottle resin and the remainder from film and other plastic end uses. Polyester demand is expected to grow at six percent a year over the next few years with the PET resin bottle market seeing the fastest growth. A small amount of PX is used as a solvent and in the production of di-paraxylene and herbicides.

Paraxylene is a flammable liquid and a fire hazard. When heated to decomposition, paraxylene emits acrid smoke and fumes. Vapours may travel to a source of ignition and flash back.

ORTHOXYLENE

Orthoxylene (OX) is the second largest of the three commercial isomers of xylene. Almost all OX produced is consumed in the manufacture of phthalic anhydride, which is converted to plasticisers, alkyd and polyester resins. Small quantities are used in solvent applications and to make bactericides, soybean herbicides and lube oil additives. It is also used to make phthalonitrile, which is converted to copper phthalocyanine, a pigment.

Orthoxylene is a flammable liquid and a fire hazard. When heated to decomposition, orthoxylene emits acrid smoke and fumes. Vapours may travel to a source of ignition and flash back.

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Mixed Xylenes

Polyethylene Terephthalate

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