Petrochemical prices plunge on crude

Chemicals , Europe , Oil , USA Dec 04, 2014 No Comments

Petrochemical prices plunge on crudeThe monthly global ICIS petrochemical index (IPEX), charting price settlements for November contracts, dropped by 6.8% from a revised month earlier figure with the northeast Asia sub-index falling 7.6% and the indexes for Europe and the US down 6.7% and 5.6% respectively.

The IPEX captures price data for 12 key petrochemicals on a regional and a global basis. It is subject to revision as monthly contracts settle which they have not done yet fully for November for US ethylene, styrene and PVC and for Asia paraxylene and styrene.

Oil prices have continued to fall but the IPEX numbers do not yet reflect the steep drop after the decision by OPEC on 28 November not to cut back on production.

Via Petrochemical prices plunge on crude, IPEX down 6.8% – ICIS

Pascal Blanc

Pascal has implemented numerous software solutions in the areas of procurement, sourcing, spend management, supplier evaluation and performance. His clients include Fortune 500 companies in Europe, Asia and North America. He is a co-founder of Source & Procure.

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