The ICIS Petrochemical index, which tracks the average change in global petrochemical prices over time, increased by 5.4% month on month in February. Several factors can be attributed to the increase in prices across the board, but stronger feedstock costs seemed to be driving the increase. Of all the markets, the northeast Asian chemical market posted the largest increase in pricing, up by 6.1% from January’s numbers. Northwest Europe saw the smallest increase, posting a 3.3% month on month, which experts accredited to a firmer price on toluene, benzene, propylene, and ethylene prices. An article published by ICIS reports on the petrochemical market trends while providing visuals to accompany their data.
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