LONDON (ICIS)--Petrochemical prices continued to track down in November, the global and regional ICIS petrochemical indexes (IPEXs) show.
The global IPEX was down 4.12% month on month, with the three regional indexes all falling.
Major commodities are suffering from a combination of weak demand and, in some instances, supply length. Weaker market conditions are exacerbated by the seasonal year end slowdown.
Only one of the commodities tracked in the IPEX, in one region, namely northeast Asia ethylene, posted a month to month price increase in November with the market was drawing support from buyers keen to replenish inventories for December.
|IPEX||IPEX Value||October to November change|
Major price rises in November
|Commodity||Region||Month on month rise|
Major price falls in October
|Commodity||Region||Month on month fall|
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.
Tne IPEX values are subject to change as monthly contracts settle.
Unsettled on 6 December 2019 for the month of November were US ethylene, styrene and LDPE and paraxylene in northeast Asia.
Paraxylene contract prices in Europe and the US rolled over from October.