02 September 2008 23:07 [Source: ICIS news]
The IPEX for September dropped to 370.45, a decline of 2.4% from the August reading of 379.74.
Although the July and August IPEX surged on a run-up in energy sector prices, NYMEX crude eroded to $109.71/bbl on Tuesday from $125.10/bbl on 1 August, despite some interim fluctuation due to Tropical Storm Edouard and Hurricane Gustav.
The last declines in the index were in September and October 2007, when the IPEX dipped by a total of only about 0.5% due to declining energy prices and a weaker US dollar.
Only one of the 12 IPEX components rose in the September report.
Polyvinyl chloride (PVC) rose 2.2%, led regionally by a 7.8% increase in Europe and a 4.5% increase in the ?xml:namespace>
Among the IPEX portfolio, the biggest decliners were benzene and toluene, both dropping by slightly more than 5% globally due largely to the end of the
Published at the beginning of each month, the IPEX provides an independent indicator of average change in world petrochemical prices.
Dating back to January 1993, historical ICIS prices for a basket of essential petrochemical grades in the
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