06 March 2012 16:57 [Source: ICIS news]
LONDON (ICIS)--The ICIS petrochemical index (IPEX) has increased further in March to 348.75, representing an 8.7% increase from its revised* February figure of 320.67.
The IPEX is now at its highest level since October 2011.
Most chemical products saw price increases in dollar terms, mainly in Europe and ?xml:namespace>
The higher European sub-index was primarily because European butadiene (BD) prices surged by 17.2% in dollar terms from the previous month. BD production in
US propylene prices recorded the highest price rise, around 30% from last month, among all the 36 chemical products in the IPEX basket, followed by polypropylene (PP) with around an 18% rise. This was the result of some planned maintenance and unplanned outages in propylene production, hence sellers were holding on to inventories.
The Asian component of the index also saw a 7.5% climb to its highest since September 2011, reflecting increases in the region’s entire IPEX product basket. BD led the increases, up by around 22%, because of high demand 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 ICIS prices for a basket of 12 essential petrochemical products in the
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