ICIS-LOR Petrochemical Index plummets 8.9% for June

08 June 2005 23:14  [Source: ICIS news]

LONDON (CNI)--The June ICIS-LOR* Petrochemical Index (IPEX) plunged 8.96% to 218.61 on weaker prices for all 12 petrochemicals in the basket, the global market intelligence and pricing service said Wednesday.


This 21.52 point drop from a revised May value of 240.13 was the steepest fall so far this year. The May IPEX value was revised downward from 241.45 following last month’s late settlement of the Asian styrene monomer contract.


As the June IPEX was released, settlements were pending on propylene contracts in the US and on Asian styrene contracts.


The IPEX is a basket of 12 key petrochemical products in the three main global trading regions of Western Europe, the US and Northeast Asia that are weighted by regional nameplate capacities to generate the monthly index value.


The basket comprises prices for ethylene, propylene, benzene, toluene, paraxylene (PX), styrene, methanol, butadiene, polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP) and polystyrene (PS).


*ICIS-LOR is part of the same publishing group as CNI.

By: Hilde Ovrebekk
+44 20 8652 3214

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ICIS Global Petrochemical Index (IPEX)
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