{"id":1349,"date":"2008-08-20T14:13:08","date_gmt":"2008-08-20T19:13:08","guid":{"rendered":"https:\/\/www.ulprospector.com\/knowledge\/?p=1349"},"modified":"2018-02-09T14:06:38","modified_gmt":"2018-02-09T20:06:38","slug":"pe-icis-ipex","status":"publish","type":"post","link":"https:\/\/ulprospector.ul.com\/1349\/pe-icis-ipex\/","title":{"rendered":"Nov. ICIS IPEX Down 13% on Weak Economy, Energy"},"content":{"rendered":"

By ICIS pricing<\/a><\/p>\n

Houston (ICIS news) \u2013 The ICIS Petrochemical Index (IPEX) for November plummeted by a record 13% to 288.01 from October’s reading of 331.83 on a combination of global economic woes and declining energy values.<\/p>\n

The previous record percentage month-on-month decline was a 10.4% fall in October.<\/p>\n

All 12 products in the IPEX portfolio declined in November, led by a 29% nosedive in benzene.<\/p>\n

The plunge in benzene was led by Europe, where values crashed 63%.<\/p>\n

Propylene tumbled by 23% on a global basis, reacting to oil prices that dropped by about 35% in October.<\/p>\n

Percentage falls in seven other commodity chemicals reached double digits.<\/p>\n

Among the chemicals posting relatively smaller declines, styrene dropped by only 1.3%, saved from a bigger drop by inertia in contract settlements due to benzene’s collapse.<\/p>\n

Other relatively resilient values were for polystyrene<\/a> (PS<\/a>), down by 6.5%, and methanol, down by 5.3%.<\/p>\n

Published at the beginning of each month, the IPEX provides an independent indicator of average change in world petrochemical prices.<\/p>\n

Dating back to January 1993, historical ICIS prices for a basket of 12 essential petrochemical grades in the US, Western Europe, and the northeast Asian markets have been weighted by regional nameplate capacity to generate a monthly index value.<\/p>\n

The IPEX product basket comprises ethylene, propylene, benzene, toluene, paraxylene, styrene, methanol, butadiene, PVC, polyethylene (PE), polypropylene (PP), and polystyrene.<\/p>\n","protected":false},"excerpt":{"rendered":"

By ICIS pricing Houston (ICIS news) \u2013 The ICIS Petrochemical Index (IPEX) for November plummeted by a record 13% to 288.01 from October’s reading of 331.83 on a combination of global economic woes and declining energy values. 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