07 April 2009 17:50 [Source: ICIS news]
HOUSTON (ICIS news)--The ICIS Petrochemical Index (IPEX) for April rose by 9.7% to 182.93, as chemical prices continued a rebound on stronger feedstock values and recovering demand in some European and Asian markets.
The April gain built on a 6.4% increase in March that had ended a sharp decline during the previous six months.
Of the 12 products in the IPEX portfolio, methanol was the only one to weaken globally in April, losing 2.1%.
Although methanol values rose by 11% in Asia on demand recovery and speculative buying, prices fell by 1.8% in Europe and by 8.4% in the ?xml:namespace>
Benzene soared 55% in Europe, while a pickup in downstream monomer demand hoisted styrene up by 36% in
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 12 essential petrochemical grades in the
The IPEX product basket comprises ethylene, propylene, benzene, toluene, paraxylene, styrene, methanol, butadiene, PVC, polyethylene (PE), polypropylene (PP) and polystyrene (PS).
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