02 March 2010 19:56 [Source: ICIS news]
HOUSTON (ICIS news)--The ICIS Petrochemical Index (IPEX) gained 1.2% in March to reach 278.91, as gains in US chemical prices offset losses in the rest of the world.
In its fourth straight monthly increase, the index grew by 3.28 from the February level of 275.63.
Prices for propylene, butadiene (BD), polystyrene (PS) and polypropylene (PP) in the US grew during the month amid constrained production and an economy showing signs of life. Meanwhile, prices in Asia and Europe underwent smaller increases or fell during the month.
Benzene was the only chemical in the index that dropped in price in all regions as Asian producers flooded the market with material, forcing reductions in March contract values.
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 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, styrene, methanol, butadiene, PVC, polyethylene (PE), polypropylene and polystyrene.
Note: Historical IPEX data is available from ICIS upon request. Please contact email@example.com.
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