LONDON ,June 1-The ICIS Petrochemical Index (IPEX) fell by 2.7% in June, reversing six months of growth.
The decline brought the June index down to 290.38, a fall of 8.17 from May.
Benzene and polypropylene prices declined in all regions, while there was a significant decrease in ethylene and propylene prices in Asia and the US.
Northeast Asian prices were under the most pressure, with quotes for three quarters of the chemicals in the index declining. In the US, an equal number of quotes were up and down.
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 decline brought the June index down to 290.38, a fall of 8.17 from May.
Benzene and polypropylene prices declined in all regions, while there was a significant decrease in ethylene and propylene prices in Asia and the US.
Northeast Asian prices were under the most pressure, with quotes for three quarters of the chemicals in the index declining. In the US, an equal number of quotes were up and down.
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.
