Prices on the global petrochemicals market finished 2012 higher, climbing 2% to $1350/tonne in December after dropping 2% the month before. On a year-over-year basis the climb in prices was more marked, with prices spiking 16% compared to December 2011, when they sat at $1161/tonne, according to the Platts Global Petrochemical Index (PGPI).
The Platts Global Polypropylene Index edged up 2% in December to $1470/tonne, despite a 2% decline in key monomer, propylene, during the same period. The Platts Global Low-Density Polyethylene Index increased 4% in December to $1476/tonne, up from $1434/tonne in November, with its key monomer, ethylene, up less than half a percent during the same period to $1256/tonne. A 7% spike in benzene prices from November to December impacted toluene, xylene, and ultimately nylon....