Corrected: May IPEX down 2.2% on lower chemical prices in northeast Asia, Europe

Miguel Rodriguez Fernandez

15-Jun-2022

Correction: In the ICIS story headlined “May IPEX up 0.4% on higher chemical prices in US Gulf” dated 15 June 2022, please read the headline as “May IPEX down 2.2% on lower chemical prices in northeast Asia, Europe”. Also please see amended regional and global IPEX percentages throughout. A corrected story follows.

LONDON (ICIS)–The ICIS Petrochemical Index (IPEX) fell by 2.2% in May month on month as higher petrochemicals and plastics prices in the US Gulf were not enough to offset steeper declines in northeast Asia and northwest Europe pricing.

Northwest Europe posted the largest drop in prices as war-related macroeconomic woes drove pricing down for many commodities, such as propylene, ethylene and PVC.

Pricing also fell in northeast Asia in May, by 2.8%. In this region, ethylene, methanol and propylene were the main products pushing down the regional IPEX.

US Gulf chemical values rose by 0.9% because of sharp increases in toluene and ethylene prices.

The Global IPEX index rose by 8.3% year on year.

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.

READ MORE

ICIS Premium news service

The subscription platform provides access to our full range of breaking news and analysis

Contact us now to find out more

Speak with ICIS

Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets. Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.

Want to learn about how we can work together to bring you actionable insight and support your business decisions?

Need Help?

Need Help?