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 DecemberCommodity Region Month on month rise PVC Northeast Asia 2.5%
Global and regional IPEX data are available hereThe 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.