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According to ICIS London on April 11, the ICIS Petrochemical Products Index (IPEX) in March increased significantly by 8.
6% month-on-month, driven by the sharp rise in crude oil and energy prices to promote a sharp rebound in global petrochemicals and plastics prices
.
Northeast Asia saw the largest increase in IPEX, as prices of some bulk commodities rose sharply, such as butadiene and toluene, which surged 34.
5% and 24.
4%, respectively
.
IPEX in the U.
S.
Gulf of Mexico rose 5.
3% month-on-month in March, mainly stimulated by sharp rises in the prices of paraxylene, propylene and toluene.
Ethylene was the only bulk petrochemical product in the region whose prices fell month-on-month
.
Northwest Europe had the most moderate growth, with IPEX rising only 0.
7% month-on-month in March, with prices for paraxylene, toluene and butadiene rising sharply, but prices for other products such as polyethylene, polypropylene and polystyrene fell
.
IPEX tracks price movements for 12 major petrochemicals and polymers, including ethylene, propylene, butadiene, benzene, toluene, paraxylene, polyethylene, polypropylene, styrene, polystyrene, methanol and polyvinyl chloride
.
