Prices in the $3-trillion-plus global petrochemicals market in October were virtually flat based on a monthly average, but edged slightly when valued on a month-end to month-end basis from September. This is the first time the markets have shown intermonth gains since May of this year, according to the just-released monthly Platts Global Petrochemical Index (PGPI). Petrochemical prices, expressed as a monthly average were $785 per metric ton (/mt) in October, down just $1/mt from September.

The PGPI is a benchmark basket of seven widely used petrochemicals and is published by Platts, a leading global provider of energy, petrochemicals, metals and agriculture information and a top source of benchmark price references.

"Benzene prices climbed 4% in October," said Jim Foster, head of analysis for petrochemicals and agriculture at Platts. "Exports of benzene out of Korea were down 30% in October, which pinched supplies globally, pushing up price as did the strengthening of upstream prices of crude oil and naphtha."

Crude oil prices were up 2% in October, while naphtha prices climbed 3%.  them build the facility."