March IPEX jumps by 11% month on month on rising prices in Europe and Asia

LONDON (ICIS)–The ICIS Petrochemical Index (IPEX) extended gains in March, rising 11.4% for the month, tracking price increases seen across most of the major petrochemical and plastics commodities.

The tables show the movement in the global and regional IPEX values as petrochemicals and plastics demand generally improved and markets tightened on the back of the production disruptions caused by the February winter storm in the US.

Northwest Europe prices posted the sharpest increase because of higher styrene, benzene and toluene pricing.

The US Gulf index posted the most moderate hike, with ethylene, styrene and benzene leading the rise.

All the petrochemicals and plastics prices used to calculate the index in the US Gulf were higher in March, with the exception of propylene and polypropylene.

Both US Gulf butadiene and Europe methanol prices are expected to be updated in the upcoming days in the IPEX index.

The northeast Asia index also went up substantially on the back of stronger styrene, ethylene and polystyrene.

In northeast Asia, only methanol values declined in March.

The Global IPEX index soared by 57% year on year.

The monthly IPEXs provide a snapshot of the petrochemicals and plastics markets in the three major producing and consuming regions as well as globally.

The IPEX table and charts below are ‘live’ and update on a regular basis. The latest price increases are shown and values of the regional and global IPEXs.

Price changes for the commodities used to create the IPEX can be captured by users on the price table allowing comparisons to be made on a flexible monthly basis.

Likewise, IPEX values can be captured by clicking into the chart are and downloading current and historical data using the ‘downlaod’ button and slecting an option.

The ICIS petrochemical index tracks the movement of prices for the 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. The IPEX values are related to a January 2000 base of 100. IPEX values are subject to change retrospectively as monthly contract prices are settled.