LONDON (ICIS)--Petrochemical prices rebounded in June on the back of the stronger crude oil market and recovering volume demand, pushing the monthly IPEX higher.
There were significant gains for ethylene in northeast Asia over the month, while aromatics contract prices in Europe for June recovered following their crash earlier in the year.
Despite the month-on-month gains for some of the major petrochemicals and plastics, the regional and global ICIS petrochemical index values remained depressed and around 30% lower year on year.
|IPEX Value||May to June change|
Major price rises in June
|Commodity||Region||Month on month rise|
Major price falls in June
|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.
IPEX values are subject to change restrospectively as contract prices are agreed. Yet to be settled for June is the Asia Pacific paraxylene contract price. The June butadiene contract reference price was settled at a rollover.