LONDON (ICIS)--Global petrochemical prices rebounded in July as pandemic-induced lockdowns continued to ease in North America and Europe and industrial activity revived, pushing the monthly IPEX higher.
Despite continuing in July the upward trend registered in June, global petrochemicals prices were 25% lower year on year.
US benzene prices gained nearly 40% in July, with northwest Europe following suit, although in Asia they fell slightly.
Butadiene (BD) prices rose strongly in northeast Asia; methanol continued losing ground in the US and northwest Europe.
|IPEX||IPEX value||Month on month||Year on year|
|Largest Cost Increases|
|Butadiene (BD)||Northeast Asia||22.72%|
|Largest Cost Decreases|
IPEX values are subject to change retrospectively as contract prices are agreed. Yet to be settled for July is the Asia Pacific paraxylene contract price; the US’ BD July contract was agreed at a rollover.
The ICIS petrochemical index tracks the movement of 12 major petrochemicals and polymers: ethylene, propylene, butadiene, benzene, toluene, PX, polyethylene (PE), polypropylene (PP), styrene, polystyrene (PS), methanol and polyvinyl chloride (PVC) with the regional indexes weighted by capacity.
Interactive content by Yashas Mudumbai