Mixed Xylene Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Mixed Xylene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Mixed Xylene Price Trend for the October - December of 2023

Asia

The fourth quarter of the year 2023 witnessed a swift decline in the mixed xylene price trend in the major Asian markets. Heavy inventories and dull demands from the downstream rubber and leather industries also pivoted the mixed xylene market trajectory downwards.

Mixed Xylene Price Chart

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The Indian domestic market witnessed a quarterly downfall of about 13% as the monthly average prices went from about 1115 USD/MT in October to about 963 USD/MT in December’23. Similarly, the Chinese mixed xylene market witnessed a depreciation of about 10%; the monthly average prices went from about 1089 USD/MT in October to about 976 USD/MT in December’23. Overall, slumping market trend were observed for mixed xylene throughout the fourth quarter of the year 2023.

Europe

The European market trend for mixed xylene were not very different from the Asian market trend. The prices varied in a downgrading manner as the bearish demand outlook forced the market southward in the majority of the domestic European markets. Degradation in the feedstock crude oil market also pushed the mixed xylene market down.

North America

The American mixed xylene market could not behave any differently than its Asian and European counterparts. The decline in offshore trade because of the freight disturbances pivoted the crude oil price trajectory downhill. Consequently, the mixed xylene market trend also shifted downwards. The general market sentiments were observed to be weak during this period.

Analyst Insight

According to Procurement Resource, Mixed Xylene price trend will take some time to improve as the current demand dynamics project further depreciation in the mixed xylene market.

Mixed Xylene Price Trend for the July-September of 2023

Asia

The mixed xylene prices surged by a significant margin in the third quarter of 2023 as the hike in the cost of feedstock material was sufficient in driving the mixed xylene price trend towards an upward trajectory. In addition to this, a substantial rise in the cost of production resulted in the rise in mixed xylene spot prices from approximately 1035 USD/MT to 1176 USD/MT in this quarter.

The demand was positive not only in the domestic but also in the overseas market. On the other hand, the manufacturing rates failed to incline at the pace of rising demand.

Europe

With the upswing in the cost of crude oil due to regulations sanctioned by OPEC+, increasing cost of production, and hike in demand, the mixed xylene price trend experienced an inclination in its prices. The trajectory of the mixed xylene price graph was also pushed in the green zone by lowering inventory levels in view of declined manufacturing rates and falls in the industrial and manufacturing sectors amid growing economic challenges.

North America

The bullish trajectory of mixed xylene price trend throughout the third quarter of 2023 was a consequence of the increasing cost of naphtha and restriction in the supply of crude oil from the majority of exporting nations. The drop in the North American inventories of mixed xylene and the closure of several crude oil refineries amid its rising demand also helped in the rise in the mixed xylene price trend.

Analyst Insight

According to Procurement Resource, the price trend of Mixed Xylene are expected to face northwards in the upcoming quarters as its demand from the end-user industries is inclining but the global inventories of mixed xylene are depleting.

Mixed Xylene Price Trend for the First Half of 2023

Asia

The price trend of Mixed Xylene performed fairly in the Asian market in the first half of 2023. Prices exhibited fluctuating patterns throughout the said period. As the market started reviving in China post removal of lockdown restrictions, demands from both domestic and international markets started rising.

Prices inclined, and manufacturing also started inclining along. Spot Prices started at an average of around 1008 USD/MT in January 2023 and inclined till April with around a 12% rise. But as the inventories rose and inquiries from downstream industries dipped, prices declined in the last months of the second quarter. The Chinese spot prices averaged around 1030 USD/MT in June’23.

In a similar manner, Mixed Xylene prices oscillated in the Indian domestic market. Average spot prices inclined from about 954 USD/MT in January to around 1063 USD/MT in March 2023 in the first quarter and wavered at around 1027 USD/MT in June by the end of the second quarter. Overall, the market remained afloat.

Europe

European Mixed Xylene market resembled the Asian market trend and fluctuated throughout the said period. Some inclinations in the price curve were attributed to the market demands from downstream rubber and leather industries. Whereas piled-up excess supplies dragged the prices down occasionally, the overall market sentiments remained afloat.

North America

The North American market was still stable compared to the other global markets. Market sentiments were dull as inventories were saturated, and the downstream industries didn’t pose much demand. Cheap Asian imports were available as the manufacturing sectors started reviving in China. Overall, dull market sentiments were observed.

Analyst Insight

According to the Procurement Resource, the Mixed Xylene prices are expected to fluctuate, given the current pricing fundamentals and rising inflation rates.

Mixed Xylene Price Trend for the Second Half of 2022

Asia

The prices of Mixed Xylene prices showcased a fluctuating price pattern in Asia in the second half of the year 2022. Some short-lived hikes were observed, but mostly the prices wavered on the lower end. As the third quarter began prices started falling owing to little to no demand. But as the aftereffects of covid-19 lockdown in China started fading, some industrial activities resuscitated pushing up the prices a bit, later that quarter.

The final quarter recorded a declining trend in the Mixed Xylene prices given the demand destruction amid harsh market conditions. Industrial revival in China didn’t prioritize downstream leather and rubber industries as much causing the prices to fall both in India and China.

Europe

Europe replicated the price trend as seen in the Asian market. The poor demands were attributed to the decreasing purchasing power caused by double-digit inflation and high energy costs. Even though the prices of crude oil started normalising in the last quarter, no impact on the prices was seen as the market enquiries took to a bare minimum. The hiked interest rates along with falling buyers’ confidence in the market further aided this decline.

North America

The North American market witnessed mixed price trend for Mixed Xylene during the said period. As the freight situations improved and supply chains started restoring, upstream costs were reduced and stabilized. Occasional demand hikes pushed the prices up sometimes, but overall bearish demands kept the market sentiment low.

Analyst Insight

According to Procurement Resource, the price trend for Mixed Xylene are expected to remain volatile in the coming months. Considering the sufficient inventories and falling upstream cost pressure, a significant rise in the market offtakes will directly impact the Mixed Xylene prices.

Mixed Xylene Price Trend For the First Half of 2022

Asia

Prices for Mixed Xylene surged in Asia due to increased demand from downstream battery, solvent, and intermediates companies. The price of Mixed Xylene in India increased by 8.1% in the first quarter, with prices hovering at 1342-1434 USD/MT in March.

Throughout the second quarter of 2022, the price trend of Mixed Xylene fluctuated. As a result of the COVID revival, the market was closed in April, causing the price to initially fall. Because to port congestion and low purchasing attitude, the merchandise was stacked. After the lockdown restrictions were lifted, the local market regained its vitality.

Europe

Prices of Mixed Xylene in Europe were observed to fluctuate in Q1 2022, with a drop in February reaching 815 USD/MT CIF Hamburg, then rising in March. Because of the ongoing conflict between Russia and Ukraine, the prices of upstream naphtha and crude oil fluctuated, causing fluctuations in Mixed Xylene prices.

The xylene market in the United Kingdom increased in the second quarter of 2022. The Russian incursion into Ukraine pushed up the price of upstream crude, which pushed up the price of Mixed Xylene. The shortage of raw materials as a result of restrictions against importing Russian oil increased the expenses even higher.

North America

Price trend for Mixed Xylene in North America climbed during the first quarter of 2022 due to increased demand from the paints and coatings sector. Mixed Xylene prices mirrored crude oil market’s mood, rising first to a very high level before settling into an acceptable range in the middle of Q1 2022. In the second quarter of 2022, Mixed Xylene continued to climb in the US market.

The price of Mixed Xylene increased in tandem with the price of upstream Mixed Xylene. Because of the product's scarcity, the rising tensions induced by sanctions on Russian imports increased the cost of upstream crude. Furthermore, demand from downstream Isophthalic Anhydride producers increased, further inflating the Mixed Xylene price.

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