Use the independent price assessments and market coverage in our price reports to track the regional Paraxylene-Orthoxylene market.
Our information is gathered by locally based reporters, giving unrivalled coverage of regional markets.
Updated to Q2 2020
New Asia PX capacity has not yet made its way to the US, as countries in the region have largely been under quarantine. Crude oil prices are likely to stay historically low, causing refinery rates to fall further, on limited demand for transportation fuels. This will decrease PX supply, limiting extraction to contractual volumes. Despite advantageous price spreads with PX, demand is weak in both the chemical and gasoline markets, so forgoing extraction incurs the lowest operating expenses.
The summer bottled drinks season is uncertain, with most of the US under stay-at-home mandates that are unlikely to lift before May. If and when peak demand occurs, it could be delayed as consumers cautiously resume outdoor activities en masse. With GDP projected to contract in Q2, consumer spending will be reduced as well, which will limit demand.
Crude oil prices are likely to stay historically low, causing refinery rates to fall further, on limited demand for transportation fuels as travel continues to be restricted. This will decrease OX supply, limiting extraction to contractual volumes, as refiners prefer to keep MX in the gasoline pool. Despite advantageous price spreads with OX, demand is weak in both the chemical and gasoline markets, so forgoing extraction incurs the lowest operating expenses.
As automakers delay restarting production to protect worker safety, as well as to focus on producing ventilators, end-use demand will drop significantly. Predictions for US GDP contraction in Q2 reflect decreased consumer spending, which will ultimately limit OX demand. Construction projects may continue to be postponed or cancelled, in what is typically the beginning of the higher demand season for downstream PA and polyvinyl chloride (PVC).
We offer the following regional Paraxylene-Orthoxylene analysis and news coverage to keep you informed of factors and developments affecting prices in the US 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.
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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