INTERACTIVE: Falling crude helps drive December IPEX down 6.40%

LONDON (ICIS)–The fall in oil prices weighed heavily on petrochemical prices for December while the US-China trade dispute impacted markets in China and wider Asia, the latest ICIS Petrochemical Index (IPEX) data show.

Crude prices were generally falling from 4 October with lower oil-based feedstock costs feeding through most noticeably into the major aromatics.

Prices were down across almost all the commodity petrochemical and polymers that make up the IPEX with all the regional indexes lower.

The steeper fall in the index for Europe reflects the contract prices settled for December, usually in late November, as the impact of lower-priced crude became more widely felt.

IPEX	IPEX Value	November to December change
Global	238.49	-6.40
US	236.87	-7.94
Northwest Europe	275.45	-8.55
Northeast Asia	224.54	-4.42
Major price rises in December
Commodity	Region	Month on month rise
PVC	Northeast Asia	2.5%
Major price falls in December
Commodity	Region	Month on month fall
Benzene	US	-24.6%
Benzene	Northwest Europe	-21.7%
Toluene	Northeast Asia	-18.5%

Global and regional IPEX data are available here
The ICIS Petrochemical Index methodology is available here

The ICIS petrochemical index tracks the movement of 12 major petrochemicals and polymers: ethylene, propylene, butadiene, benzene, toluene, paraxylene (PX), polyethylene (PE), polypropylene (PP), styrene, polystyrene (PS), methanol and polyvinyl chloride (PVC) with the regional indexes weighted by capacity. Historical IPEX values are liable to amendment as contract prices settle retrospectively.