05 April 2011 15:38 [Source: ICIS news]
LONDON (ICIS)--The ICIS Petrochemical Index (IPEX) for April 2011 has increased to 351.82 after climbing for the eighth consecutive month. This month’s IPEX has improved by 4.0% on the revised* March 2011 figure of 338.28.
The rise in the index was fuelled by a surge in the value of the dollar-based IPEX European component which saw a monthly rise of 6.8%, aided by a 3.0% weakening of the dollar against the euro. The European component is just shy of its all-time high from August 2008.
The Asian component of the index rose by 3.8% and the ?xml:namespace>
Butadiene prices saw the strongest increases, rising in all regions, with more than 10% increases experienced in both Europe and
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, paraxylene (PX), styrene, methanol, butadiene, polyvinyl chloride (PVC), polyethylene (PE), polypropylene (PP) and polystyrene.
The March IPEX has been revised from 336.84 to 338.28, 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 index from an estimated status to an actual status.
By: Regan Hartnell
+44 20 8652 3214
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