Global petrochemical index drops 8%
The monthly index points to further price falls in the future.
The monthly IPEX has recorded a collapse in the global commodity petrochemical and polymer prices sector.
The indicator from Independent Commodity Intelligence services comprises three regional sub-indexes, which are based on the prices of 14 commodity petrochemicals and polymers weighted by capacity to produce.
The index points to strong margin pressure on some major chemical companies.
ICIS say that prices have dropped sharply in NE Asia and are under pressure in northwest Europe and the US.
Accordingly, August contract prices for the key aromatic petrochemicals, benzene and toulene have suffered steep falls having risen strongly in recent months on tight availability.
