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| Welcome to the ICIS Reporter weekly newsletter |
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This week we highlight developments in the chemical industry in the Middle East. The next wave of construction is underway with huge volumes of new capacity scheduled for completion until 2015. We examine how exporting the production will put the supply chain under severe pressure. Iran is managing to bypass Western sanction by exporting more chemical and polymer production to Asia. This week we also have an update on mergers and acquisition activity. And we feature the US National Association of Chemical Distributors’ supplement.
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| Stories from ICIS Chemical Business |
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| ADVERTISMENT |
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ICIS provides trusted pricing and market intelligence for over 120 commodities. Our global network of reporters enables us to offer in-depth market knowledge, with a focus on the importance of individual market dynamics. We publish a number of price reports covering the Middle East region, including polyethylene, polypropylene, PET, polystyrene and PVC.
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| IPEX |
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December IPEX reaches highest level in seven months
LONDON (ICIS) – The ICIS Petrochemical Index (IPEX) for December strengthened by nearly 4% to 292.53 from its revised* November figure of 281.67, returning to May 2010 levels.
Asia led the growth this month with a 6.4% increase in its index. It was buoyed by increases in most prices except ethylene which fell by 5.6% as a result of increasing ethylene supplies from the Middle East putting prices under pressure.
The US component strengthened by 1.5% primarily on rises in paraxylene (PX) and benzene. The European component edged up by nearly 1% as a result of mainly stronger aromatics prices but was held back by the stronger dollar against the euro.
PX prices were boosted by double-digit percentage increases in all three regions, most notably in Asia. PX prices have been buoyant as demand for purified terephthalic acid (PTA) and polyethylene terephthalate (PET) has been strong. European markets have also been driven by rising Asian prices.
*The revised historical IPEX data is available from ICIS on request.
For a full methodology of the revised IPEX, visit www.icis.com/StaticPages/ICIS_Indices_IPEX.htm
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