Prices in global petrochemicals market in December slip by 1.1% from November 2015's average

14-Jan-16

Prices in the $3-trillion-plus global petrochemicals market in December, expressed as a monthly average, were US$796 per metric ton (/mt), down 1.1% or US$9 per mt, from November's average, according to the monthly Platts Global Petrochemical Index (PGPI). Prices also closed the month on a low note, with an end-of-month closing physical price that was 1.75% lower than the end-of-month price in November. This is a reverse in trend from the previous two months, when markets showed consecutive gains. "The primary olefins of ethylene and propylene both showed slight gains, while aromatics softened in December, comparing month to month values," said Hetain Mistry, managing analyst for petrochemicals at Platts, a leading global provider of energy and commodities information and benchmark price assessments. "Ethylene was marginally higher, by 0.20% and propylene was 1.4% higher, both remaining steady on tight supply, especially in Asia. In terms of aromatics, benzene and paraxylene saw the biggest shift downwards, with values down 5% for both, following upstream energy trends, as both crude and naphtha posted losses in December." Crude oil prices were down 14% in December and naphtha prices were down 8%.