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Driven by higher energy prices, ICIS Global Petrochemicals Index up 5.3% in February

 Last Update: 2023-03-06
 Source: Internet
 Author: User

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butadiene

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According to ICIS website news on March 7, the ICIS Petrochemical Index (IPEX) rose 5.
3% month-on-month in February, mainly because the global petrochemical and plastics market was driven by higher crude oil and energy prices
.

Northeast Asia saw the biggest gains, with commodities such as butadiene up as much as 29%
month-on-month.
PVC is the only product
in the region where prices have fallen.

The US Gulf region index rose 3.
9%
in February.
This upward trend was mainly driven
by a sharp increase in the prices of paraxylene, propylene and toluene.

Pricing gains were the weakest in northwest Europe, where its IPEX index rose just 0.
5 percent
.
The price of paraxylene and toluene rose the most, up 9% and 11.
5%,
respectively.
Benzene, polyethylene and styrene declined
.

The global IPEX index rose 20%
year-on-year.

The IPEX monthly index reflects the three main production and consumption regions and the global petrochemical and plastics markets
.

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