Oxygen: Trading
Twenty-year contracts and hidden prices
What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.Who buys, and where
- Steel mills, refiners and chemical plants contract on-site supply
- Hospitals and small users buy liquid or cylinders from distributors
Who sells, and from where
- Industrial gas majors and regional suppliers (INOX Air Products, Linde India, Air Liquide, Air Water)
- Steel plants with spare ASU capacity sell liquid oxygen
Price benchmarks
| Benchmark | Publisher | Basis |
|---|---|---|
| No public spot benchmark; consultant cost and price indices (e.g. Intratec country prices) | Intratec | monthly modelled contract price |
Contract types
- 15-20 year on-site tonnage contracts with take-or-pay and power pass-through
- Bulk liquid supply contracts of 3-5 years
- Cylinder rental plus gas price
Traders and distributors
- None of note: oxygen is sold by producers, not traded
How Indian buyers price it
- Contract and list prices set by suppliers; power pass-through clauses
- Medical oxygen subject to NPPA price controls in emergencies (2020-21, indicative)
Recent price points
| Date | Price | Basis | Source |
|---|---|---|---|
| May 2023 | 8.11 US cents per Nm3 (about $57/t) | contract, ex-works, India | Intratec |
| May 2023 | 3.53-4.02 US cents per Nm3 (about $25-28/t) | cash cost, India | Intratec |
Good sources to follow
gasworldfreemium newsletter · industrial gases trade publisherindustrial gas markets, plants and company news, including India country reports
Thunder Said Energyfreemium research site · energy transition research firmcosts and economics of air separation units
Intratec industrial gas pricespaid research site · Intrateccountry contract prices and costs for oxygen and nitrogen