Global IPEX falls 2% in October on Asian market woes
Tom Brown
06-Nov-2019
LONDON (ICIS)–Sharp falls in producer pricing in Asia amid the ongoing global industrial downturn and the cooling effect of the US-China trade war drove down the global ICIS Petrochemical Index (IPEX) in October.
– Substantial falls for the northeast Asia IPEX more than offset a modest uptick in Europe values and a smaller decline in the US.
– Inventory effects and weak end-market demand continue to weigh on producers globally.
– Sharpest falls seen for methanol in northwest Europe styrene in northeast Asia
– IPEX values down between 17% and 23% across all regions and globally year on year.
IPEX | IPEX Value | September to October change |
Global | 221.2 | -2.0% |
US | 230.6 | -0.3% |
Northwest Europe | 263.1 | 0.1% |
Northeast Asia | 199.6 | -4.1% |
Major price rises in October
Commodity | Region | Month on month rise |
Paraxylene | US | 2.4% |
Polyethylene | Northeast Asia | 2.1% |
Benzene | US | 2.0% |
Majjor price falls in October
Commodity | Region | Month on month fall |
Methanol | Northwest Europe | -11.1% |
Styrene | Northeast Asia | -8.2% |
Polypropylene | US | -3.4% |
The regional and global IPEX values can change retrospectively as monthly contract prices are agreed.
Not yet settled for October from September are US polyethylene (PE), styrene and polyvinyl chloride (PVC), as well as northeast Asia paraxylene (PX).
US and northwest Europe butadiene (BD) prices are unchanged month on month.
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, BD, benzene, toluene, PX, PE, polypropylene (PP), styrene, polystyrene (PS), methanol and PVC with the regional indexes weighted by capacity.
(Clarification: recasts list of products that have yet to settle)
Global News + ICIS Chemical Business (ICB)
See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.
Contact us
Partnering with ICIS unlocks a vision of a future you can trust and achieve. We leverage our unrivalled network of industry experts to deliver a comprehensive market view based on independent and reliable data, insight and analytics.
Contact us to learn how we can support you as you transact today and plan for tomorrow.