Platts Global Petrochemical Index (PGPI)
April 26, 2018 -- Prices in the $3 trillion-plus global petrochemicals market fell 1.7% in March to $1,056.62/mt, according to monthly average of the S&P Global Platts Petrochemical Index, a benchmark of seven widely used petrochemicals.
The losses in the petrochemical markets reflected a similar drop in naphtha prices, which also fell 1.7% to $551.90/mt. Oil and ethane prices were both higher in March.
On a year-on-year basis, petrochemical prices were up 6.3% from the March 2017 average price of $994.26/mt, Platts data showed.
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Benzene prices fell 3.9% in March to $856.68/mt. The price, though, was 4.2% higher than the March 2017 price of $822.45/mt. Toluene prices fell 3.7% in March to $731.00/mt, while paraxylene prices fell 1.2% to $929.14/mt.
Propylene prices fell 3.1% in March to $968.70/mt. Propylene prices were 5.6% higher year-on-year. Ethylene prices were down 0.2% in March at $1,098.61/mt. It remained 3.6% higher than March 2017, when prices averaged $1,060.25/mt.
Polypropylene prices were 1.1% lower in March, falling to $1,297.03/mt, and were 13.5% higher than March 2017 prices. Polyethylene prices fell 2.5% to $1345.83/mt
Petrochemicals are used to make plastic, rubber, nylon and other materials for consumer products, packaging, manufacturing, construction, pharmaceuticals, aviation, electronics and nearly every commercial industry.
Platts is a leading global energy, petrochemicals and metals information provider and a top source of benchmark price references..
The PGPI reflects a compilation of the daily price assessments of physical spot market ethylene, propylene, benzene, toluene, paraxylene, low-density polyethylene (LDPE) and polypropylene as published by Platts and is weighted by the three regions of Asia, Europe and the United States.
Used as a price reference, a gauge of sector activity, and a measure of comparison for determining the profitability of selling a barrel of crude oil intact or refining it into products, the PGPI was first published by Platts in August 2007.
Published daily in a real-time news service Platts Petrochemical Alert and other Platts publications, the PGPI is anchored by Platts robust and long-established price assessment methodology and the firm's 100+ year history of energy price reporting.