07 June 2006 12:48 [Source: ICIS news]
LONDON (ICIS news)--The ICIS Petrochemical Index (IPEX) soared 3.47% in June to 245.72, with 11 of the 12 petrochemical grades in the IPEX basket posting average price gains globally.
“With oil holding stubbornly at above $70/bbl for much of May the petrochemicals industry had to face up to tough pricing issues in the struggle to pass on soaring feedstock costs,” global chemical market intelligence service ICIS pricing said on Wednesday.
"The aromatics complex has firmed at a dramatic rate over the past month, largely driven by the strength of the ?xml:namespace>
"Demand for gasoline blends such as mixed xylene and toluene, mainly as a result of the phase-out of MTBE [methyl tertiary butyl ether] in the
Methanol prices fell by 1.29% compared with May, partly due to the MTBE phase-out.
The IPEX provides an indicator of average change in world petrochemical prices. Dating back to January 1993, ICIS's historical prices for a basket of 12 essential petrochemical grades in the
The IPEX product basket comprises the following products: ethylene, propylene, benzene, toluene, paraxylene (PX), styrene, methanol, butadiene, polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP), and polystyrene (PS).
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