Corrected: Sharply lower C4 and C6 prices drive IPEX down 7.6% in April

Correction: In the ICIS news story headlined “Sharply lower C4 and C6 prices drive IPEX down 7.6% in April”, dated 8 May, please read in the 1st paragraph … – it fell 4.2% in March … instead of …in February… And in the 2nd paragraph … Price falls last month were more widespread than in March.  In paragraph eight please read …a fall last month of $755/tonne… instead of …$765/tonne. A corrected story follows.

LONDON (ICIS)–Lower petrochemical prices globally helped drive the ICIS Petrochemical Index (IPEX) down 7.6% in April to a value of 255.29 – it fell 4.2% in March. Asia and Europe prices for benzene, styrene and polystyrene and for butadiene in Asia and the US were sharply lower.

Price falls last month were more widespread than in March and all three regional IPEX values were lower. The global index was up 16% on April 2016. The index value is relative to a January 1993 base.

Prices for all products in the northeast Asia IPEX were lower in April, some down significantly, while the picture was more varied in other regions.

The 12 petrochemicals in the IPEX basket are ethylene, propylene, butadiene, benzene, toluene, paraxylene, styrene, polystyrene (PS), polyethylene (PE), polypropylene (PP), methanol and polyvinyl chloride (PVC).

Benzene, styrene and polystyrene prices were down sharply in all three regions but the falls were steepest for benzene and styrene monomer contracts in the US and northwest Europe.

Ethylene prices rose 6.7% in the US and were flat in northwest Europe but lower in northeast Asia.

Propylene prices were down sharply in the US and northeast Asia. Methanol prices were down 14.5% in northeast Asia and down 10.5% in the US but up 14.2% in northwest Europe.

Butadiene prices in Asia remained on a rollercoaster with a fall last month of $755/tonne or 36.3%. Butadiene prices in the US were down $375/tonne or 13.5% but unchanged in northwest Europe, the lowest priced region for the C4 molecule.

The US paraxylene contract price for April has yet to be settled so the US and global IPEX values for the month will be revised when agreement is reached.

Download global and regional ICIS IPEX data here
View the full IPEX methodology here