Global IPEX slides in December as chemical prices soften in all regions

LONDON (ICIS)–The ICIS Petrochemical Index (IPEX) fell 1.3% month on month in December as chemical prices fell in all three regions.

The US Gulf index posted the sharpest fall, down 4.6%, driven lower by falls in toluene, butadiene (BD) and polypropylene (PP) prices.

The index for northwest Europe was down 0.7%, mainly due to a steep drop in benzene and toluene contract values.

The northeast Asia IPEX was 0.5% lower, with toluene, paraxylene (PX) and polystyrene (PS) leading the index down.

Among commodities included in the global IPEX, PX contract prices in northwest Europe and the US Gulf are the only ones yet to settle as negotiations are still ongoing.

The Global IPEX index for December was down by 14.1% 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.

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