Global petrochemical prices in freefall

Chemicals , Plastics Jun 15, 2012 No Comments

Petrochemical plantGlobal petrochemical prices fell by 11% in May, their biggest month-on-month drop since November 2008, when the worldwide economic crisis became an accepted and painful reality.

Prices in the $3-trillion-plus global petrochemicals market averaged $1279/tonne in May, plummeting by $165/tonne according to the Platts Global Petrochemical Index (PGPI), a benchmark basket of seven widely used petrochemicals.

Platts noted that all seven components of the PGPI were lower in May, with propylene and ethylene experiencing the largest losses (17% each).

The top two plastics in terms of consumption, which are also products of ethylene and propylene, polypropylene and polyethylene, were down 9% and 8%, respectively.

The global aromatics markets posted the most shallow declines, with toluene and paraxylene both falling 4%. The global benzene index was down 2%.

via Global petrochemical prices in freefall | PlasticsToday.com.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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