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ICIS Reporter newsletter brings you all the analysis and insight you need to keep you ahead of the game in the competitive and dynamic chemical industry! This week we examine the latest developments in chemical feedstocks. With oil prices fluctuating so violently, the search is on for alternatives routes to chemicals. Coal-to-chemicals is becoming increasingly important, especially in China where oil is short. And in the US, the use of shale gas is driving hugely improved cracker economics for the chemical sector there though challenges remain.
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| IPEX |
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January IPEX reaches its highest since October 2008
LONDON (ICIS) – The ICIS Petrochemical Index (IPEX) for January 2011 has climbed to 300.30, after increasing for six consecutive months. The IPEX has improved by 2.2% from its revised* December 2010 figure of 293.83, to its highest since October 2008.
The higher January IPEX is primarily the result of a 3.2% improvement in the Asian component of the index, which has also risen to its highest since October 2008.
The largest price hike was for ethylene in Asia, which rose by nearly 15% on the back of firm crude and naphtha values and high demands from China and South Korea.
Firmer polymer prices, in particular for polystyrene (PS), in the US played a key role in increasing the US component of the index by 2.7%, returning to its June 2010 level.
The majority of prices in Europe increased in euro-terms. However, due to the stronger dollar, the European component of the index has fallen by 0.5% in dollar terms.
*As of July 2010, the index has been revised retrospectively to replace latest available contract prices at the time of publication that had previously been used in the data series with actual settled contract prices. This has had the effect of moving the derived IPEX index from an estimated status to an actual status.
The revised historical IPEX data is available from ICIS on request
For a full methodology of the revised IPEX, visit our website |
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