HOUSTON, April 27, 2015 /PRNewswire/ -- Prices in the $3-trillion-plus global petrochemicals market climbed another 9% month over month in March, for a second month of rebound following six consecutive months of falling prices. Petrochemical prices, expressed as a monthly average, increased $81 per metric ton (/mt) from February to $954/mt in March, according to the just-released monthly Platts Global Petrochemical Index (PGPI).

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.

"Even though crude prices were down slightly on average in March, petrochemicals were still responding to the nearly 20% increase in crude prices in February, and the 24% increase in February naphtha prices," said Jim Foster, director of petrochemical analysis at Platts. "In February, petrochemicals only advanced 3%, but were able to post gains of nearly 10% in March."

                                         PLATTS GLOBAL PETROCHEMICAL INDEX IN DOLLARS PER METRIC TON

                                               The daily price reflected as a monthly average

     March      Monthly             Annual %            March                     Feb 2015              Jan 2015        Dec 2014        Nov 2014
      2015      % Change     Change                                2014
      ----      --------     ------                                ----

           $954           9%            -30%                     $1,370                          $872            $850            $984            $1,205
           ----          ---              ---                      ------                          ----            ----            ----            ------

A chart shows the daily end-of-day Platts Global Petrochemical Index (PGPI) price in red and also displays the 20-day PGPI moving average (MA) in blue. If you have trouble viewing the graphic, visit this link: PGPI Averages.

Petrochemicals are used to make plastic, rubber, nylon and other consumer products and are utilized in manufacturing, construction, pharmaceuticals, aviation, electronics and nearly every commercial industry.

OLEFINS
Prices of olefins - a group of hydrocarbon compounds which are the building blocks to many petrochemical products used to produce everyday goods - jumped approximately 10% in March as the market reacted to February's strong naphtha prices. Ethylene prices gained 10% in March from February to $922/mt and propylene prices were up 9% to $933/mt.

Polyethylene and polypropylene, plastics manufactured from ethylene and propylene respectively, posted similar month-over-month price gains. Global polyethylene prices climbed to $1,270/mt, up 9%, while polypropylene prices were up 11% to $1,284/mt.

AROMATICS
Prices of aromatics - a group of scented hydrocarbons with benzene rings used to make a variety of petrochemicals - also saw increases in March. Benzene saw the largest gain of any component in the PGPI, with prices climbing 15% from February to $727/mt in March. Toluene prices rose 7% to $690/mt, while paraxylene prices were flat at $788/mt.

Global equity markets were mixed in March. The London Stock Exchange Index (FTSE) posted a 2.5% drop and the Dow Jones Industrial Average wasn't far behind, falling 2%. However, the opposite was true of the NIKEEI 225, which was up 2% last month.

A summary of the March performance of each of the seven key petrochemicals included in the PGPI is available upon request.

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.

Platts petrochemicals experts are available for media interviews. A sample list of experts may be found at the Platts Media Center. For more information on petrochemicals, visit the Platts website at www.platts.com.

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets. A division of McGraw Hill Financial (NYSE: MHFI), Platts is based in London with more than 1000 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.

About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL and J.D. Power. The Company has approximately 17,000 employees in 30 countries. Additional information is available at www.mhfi.com.

SOURCE Platts

SOURCE: Platts