LONDON (ICIS)--Sharply lower prices in the US for key petrochemicals such as methanol, toluene, benzene and butadiene helped drive the global ICIS Petrochemical Index (IPEX) down in August.Image source: Shutterstock
The index for the US was down 2.1% month on month.
Methanol prices were also sharply lower (-7.5% month on month) in northeast Asia.
Sharply higher ethylene and butadiene prices in northeast Asia helped balance out the generally global flat to negative petrochemical price trend.
The global IPEX for August was almost 20% lower than that for August 2018.
Index values are significantly lower in all regions led by northeast Asia (-23.5% year on year in August).
The regional and global IPEX values can change retrospectively as monthly contract prices are agreed. Not yet settled for August or unchanged from July are US ethylene, styrene and polypropylene prices and paraxylene in northeast Asia.
|IPEX||IPEX Value||July to August change|
Major price rises in August
|Commodity||Region||Month on month rise|
Major price falls in August
|Commodity||Region||Month on month fall|
Interactive content by Tom Brown
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.