04 January 2012 09:38 [Source: ICIS news]
LONDON (ICIS)--The ICIS petrochemical index (IPEX) remained flat at 300.82 in January, a minute change from its revised* December figure of 300.78.
The Asian component of the IPEX strengthened by 4.8%, offsetting falls in the ?xml:namespace>
The Asian component observed the only price rises for some of its basket products. Butadiene (BD) led these hikes, soaring by 47.8%, mainly as a result of limited availability and increased buying interest.
Chinese traders have been securing and storing material in anticipation of rising prices for their upcoming start-ups of new downstream synthetic plants in the first quarter of 2012. Traders have also been seeking to secure material ahead of the Lunar New Year holidays in the region towards the end of January.
However, BD in the US and Europe fell significantly, by 14.8% and 13.5% in dollar terms respectively, as low levels of demand persist for both regions.
The most significant price drop 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
* The December IPEX has been revised from 300.94 to 300.78, following incorporation of the
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections