Global IPEX firms despite sharp Europe contraction

LONDON (ICIS)–The Global ICIS Petrochemical Index (IPEX) firmed slightly in July as stronger pricing in the US and Asia offset another month of declines in Europe, despite the ongoing trade war.

– European contraction accelerated in July

– US and NE Asia benzene prices showed the most substantial rises

– Sharpest declines were all for European commodity chemicals

IPEX	IPEX Value	June to July change
Global	228.74	0.14%
US	233.71	1.94%
Northwest Europe	267.52	-5.42%
Northeast Asia	210.66	2.16%
Major price rises in July
Commodity	Region	Month on month rise
Benzene	US	12.36%
Benzene	Asia	8.83%
Toluene	US	8.00%
Major price falls in October
Commodity	Region	Month on month fall
Methanol	Europe	-15.84%
Propylene	Europe	-9.82%
Ethylene	Europe	-8.51%

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.

IPEX values may change as monthly contract prices are settled.

At the time of publication the following contracts were unsettled or rolled over from June: US styrene and polyvinyl chloride, northeast Asia paraxylene.

Additional reporting by Susan Mair. Interactive content by Tom Brown