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This week we focus on the ICIS innovation awards 2009. In harsh economic times innovation spend comes under pressure but judging from the number of entries in this year's ICIS innovation awards, innovation comes to greater prominence. We showcase some of the shortlisted awards, which are sponsored by Dow Corning and CRA International. |
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| IPEX |
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August ICIS IPEX petrochemical price index up 4%
The ICIS Petrochemical Index (IPEX) rose to 234.17 in August, up 8.72 points as prices for every chemical in the index inched up across the globe.
The index rose by nearly 4% from 225.45 in July as chemical values rose for the sixth straight month, albeit at a much slower rate than that month’s record 15% increase. The index is now at a nine month high, though still 38% below its peak of 379.74 in August.
Most of the increase came from butadiene (BD) values, which rose 34% in Asia and was the only chemical to rise by more than 10% in its global price. BD supply has tightened as crude C4 has become scarce, sources said.
Oher chemical prices were spurred by moderate increases in demand and crude oil values that have hovered in the high $60s/bbl.
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 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.
The IPEX product basket comprises ethylene, propylene, benzene, toluene, paraxylene, styrene, methanol, butadiene, PVC, polyethylene (PE), polypropylene (PP) and polystyrene (PS).
Note: Historical IPEX data is available from ICIS upon request. Please contact stephen.burns@icis.com
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