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June ICIS Petrochemical Index (IPEX) up 2.4%
The ICIS Petrochemical Index (IPEX) for June rose by 2.4% to a reading of 327.32 points from 319.55 in May, with all products reflecting increases this month.
The index has risen by 21% from its June 2007 level of 270.47 points.
The leading gainer for June was benzene, up 6.6% globally due largely to ongoing high upstream crude oil prices. Benzene led regionally by an increase of 13.1% in Europe.
Toluene was the next-strongest performer with a global increase of 6.2%.
Also reflecting upstream pressures, propylene led the remainder of the portfolio with an increase of 3.7%. Propylene prices were, by far, strongest in the US, with an increase of 6.2%.
Published at the beginning of each month, the IPEX provides an independent indicator of average change in world petrochemical prices. Dating back to January 1993, historical ICIS prices for a basket of 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.
The IPEX product basket comprises ethylene, propylene, benzene, toluene, paraxylene, styrene, methanol, butadiene, PVC, polyethylene (PE), polypropylene (PP), and polystyrene (PS).
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