October ICIS IPEX petrochemical index falls 1.0%

06 October 2009 18:33  [Source: ICIS news]

October IPEX falls 1%HOUSTON (ICIS news)--The October ICIS Petrochemical Index (IPEX) fell by 1.0% to 244.65, its first drop since February, as the plummet in key feedstock prices in Asia more than offset steep climbs elsewhere.

The index fell by 2.46 points from 247.11 in September as ethylene, propylene and benzene prices in Asia fell by double-digit precentage points.

Along with less dramatic price cuts in other chemicals and other regions, the decreases countered steep increases in US propylene and European butadiene (BD) prices.

Benzene had the most significant drop for a single chemical around the globe. Benzene prices fell nearly 30% in Europe and the US, and about 16% in Asia, compared with a month earlier.

Methanol prices had the highest global jump for the month, a result of traders outbidding each other for perceived limited supply. Methanol values rose by 30% in the US and 40% in Europe, while essentially staying flat in Asia.       

Published at the beginning of each month, the IPEX provides an independent indicator of the average change in world petrochemical prices.

Dating back to January 1993, historical ICIS prices for a basket of 12 essential petrochemical grades in the US, western Europe and the northeast Asian markets have been weighted by regional nameplate capacity to generate a monthly index value.

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

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Note: Historical IPEX data is available from ICIS upon request. Please contact stephen.burns@icis.com.

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ICIS Global Petrochemical Index (IPEX)
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