Index stabilizes before moving up

By Staff -- Purchasing, 5/7/1998

Purchasing's index of industrial chemical prices remained essentially stable in April, declining only 0.1 point to 101.5 in April. The impetus for the slight downward movement was from declining benzene tags. U.S. bulk prices for benzene fell 5(cent)/gal to an average of 80(cent)/gal in April. Ammonia tags also went down, slipping an average of $5/ton to $260/ton for contracts and $265/ton on the spot market.

As aromatic chemical prices begin to rebound from their currently low levels, buyers can expect to see the industrial chemical price index begin to rise. Purchasing forecasts the index will rise to an average of 108.0 in the third quarter. After that, the index will dip slightly as the slower winter demand season gets underway for aromatics, pushing prices down. Also, aliphatic tags will continue a slow descent straight through year-end.

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