07 September 2010 18:06 [Source: ICIS news]
LONDON (ICIS)--The ?xml:namespace>
The September index rose 1.5% to 259.86 from the revised* August figure of 256.04.
The Asian component of the index rose by 3.3%, recouping much of last month’s loss. It was buoyed by double-digit percentage rises in the prices of propylene and polyethylene (PE) as a result of tight supply and production issues.
In contrast, the European component of the index weakened by 0.7% on lower August monthly European contract settlements. The decline would have been greater but for stronger domestic polyvinyl chloride (PVC) prices, and a further 0.4% weakening of the US dollar versus the euro.
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
The IPEX product basket comprises ethylene, propylene, benzene, toluene, PX, styrene, methanol, butadiene, PVC, PE, PP and PS.
*The August IPEX has been revised from 256.75 to 256.04, following incorporation of the
**As of July 2010, the index has been revised retrospectively to replace latest available contract prices at the time of publication that had previously been used in the data series with actual settled contract prices. This has had the effect of moving the derived IPEX from an estimated status to an actual status.
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