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.
Updated to Q2 2021
There are several planned PX shutdowns, resulting in around 499,400 tonnes of production loss. Supply is estimated to lengthen, depending on the restart of an idled 800,000 tonne/year PX unit in China. Furthermore, Zhejiang Petrochemical is gearing up to start up its aromatics phase II project. The facility will be able to produce around 4.5m tonnes/year of PX.
PX demand is expected to be healthy going forward, with limited planned shutdowns at PTA facilities. Currently, the PTA production loss from planned turnarounds is estimated at 420,800 tonnes for Q2, equivalent to a PX production loss of around 277,728 tonnes. A 3.3m tonne/year PTA facility in China is expected to start-up in mid-Q2, which will provide new demand for PX.
Operating rates at existing OX facilities are expected to remain low, as regional suppliers continue to face mounting cost pressure. Availability for deep-sea cargoes is likely to stay low, with the arbitrage economics staying negative. A major producer in India is expected to shut its facility for maintenance in mid-Q2, keeping spot availability limited. However, supply within China is more than sufficient, with over 60,000 tonnes of inventories being stored at tanks.
Production margins for downstream PA producers are weakening, amid lower prices. This will likely curb buying interest for spot OX cargoes. The economics for imports into China is negative, and with more than sufficient inventories being kept within the country, import buying appetite is likely to stay low. There are several planned shutdowns at PA facilities in South Korea and Taiwan, amounting to PA production loss of around 16,900 tonnes.
We offer the following regional Paraxylene-Orthoxylene analysis and news coverage to keep you informed of factors and developments affecting prices in the Asia Paraxylene-Orthoxylene marketplace.
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Paraxylene (PX) is the largest volume isomer of the mixed xylenes. Orthoxylene (OX) is the second largest of the three commercial isomers of xylene.
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.
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