Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, declined 4.2 points to 253.2 points by the end of last week compared to the previous week as the prices of polymers declined.
|
Argaam Petrochemical Index |
|
|
253.2 |
Argaam Index ( November 23, 2014) |
|
(1.6%) |
Weekly change |
|
(8.7%) |
6 months change |
|
(9.2%) |
1 year change |
Naftha feedstock gained $35 to $675 a ton last week.
The prices of Saudi natural gas liquids (NGL) such as propane and butane are set at 28% below the Japanese Naphtha benchmark, excluding freight costs.
|
Prices of Naphtha including shipping cost to Japan ( November 23, 2014) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(30%) |
(30%) |
+5% |
675 |
Naphtha * |
|
(30%) |
(30%) |
+5% |
486 |
Propane ** |
** Approximate price in Saudi Arabia (28% discount for NAFTHA).
Polymers declined last week because of low demand and the drop in prices of feedstock like ethylene, propylene and styrene, traders said . High Density Polyethylene (HDPE) dropped $75 to $1,390 a ton. Polypropylene lost $30 to $1,395 a ton. Polystyrene decreased $50 to $1,415 a ton, while PVC declined $35 to $930 a ton.
Ethylene dropped $50 to $1,130 a ton and propylene lost $95 to $1,045 a ton.
Aromatics bucked the trend last week after weeks declining.
|
Basic Petrochemicals ( November 23, 2014 ) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(13%) |
(18%) |
(4%) |
1130 |
Ethylene* |
|
(26%) |
(23%) |
(8%) |
1045 |
Propylene* |
|
(23%) |
(21%) |
+6% |
995 |
Benzene* |
|
(23%) |
(19%) |
+4% |
1255 |
Styrene* |
|
(16%) |
(5%) |
-- |
435 |
Methanol (Methanex)** |
|
(34%) |
(6%) |
-- |
325 |
Methanol (China)*** |
|
(17%) |
(18%) |
+10% |
915 |
MTBE**** |
* FOB-East Asia (Japan, Taiwan and Korea).
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
|
Polymers Prices ( November 23, 2014 ) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(9%) |
(11%) |
(5%) |
1390 |
Polyethylene* |
|
(9%) |
(9%) |
(2%) |
1395 |
Polypropylene |
|
(21%) |
(17%) |
(3%) |
1415 |
Poly Styrene |
|
(6%) |
(12%) |
(4%) |
930 |
PVC |
|
+6% |
+6% |
-- |
2650 |
PCB |
* High density polyethylene.
|
Intermediates ( November 23, 2014 ) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(10%) |
-- |
+6% |
905 |
Spot MEG - china |
|
(17%) |
(8%) |
-- |
1000 |
MEG (SABIC) |
|
(18%) |
(9%) |
+2% |
805 |
PTA |
|
Fertilizers ( November 23, 2014 ) - Gulf Arab Countries |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
-- |
+12% |
-- |
320 |
Urea |
|
+39% |
+31% |
+2% |
620 |
Ammonia |
|
+26% |
+9% |
-- |
490 |
DAP* |
|
Titanium Dioxide ( November 23, 2014) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(4%) |
(2%) |
-- |
2750 |
Tio2 (Asia) |
|
(10%) |
(11%) |
-- |
2885 |
Tio2 (Europe) |
|
(3%) |
-- |
-- |
3465 |
Tio2 (America) |
|
End Products for Saudi Petrochemical Companies |
|
|
Finished Products |
Company |
|
Polyethylene , polypropylene , poly styrene , ethylene glycol (MEG), methyl tert- butyl ether (MTBE), benzene , urea , ammonia , PVC, and PTA |
SABIC |
|
Urea, ammonia. |
SAFCO |
|
Polyethylene, polypropylene, ethylene glycol (MEG), methyl tert- butyl ether (MTBE), benzene. |
YANSAB |
|
Polyethylene, polypropylene, propylene. (TiO2) |
Tasnee |
|
Polyethylene, polypropylene, ethylene glycol (MEG), polycarbonate, and bisphenol A. |
Saudi Kayan |
|
Polyethylene, polypropylene, propylene oxide, and refined petroleum products. |
Petro Rabigh |
|
Polyethylene, polypropylene, poly styrene. |
Petrochem |
|
Polyethylene, polypropylene. |
Sahara Petrochemicals |
|
Styrene, benzene, Cyclohexene, propylene. |
Saudi Group |
|
Methanol, Butanol, acetic acid, vinyl acetate monomer. |
Sipchem |
|
PP. |
Advanced |
|
Polypropylene. |
Alujain |
|
Formaldehyde - improvers concrete |
CHEMANOL |
|
Epoxy resin, hydrochloric acid, liquid caustic soda, soda granules. |
NAMA |
|
Ammonia and DAP |
MAADEN |
About Argaam Petrochemical Index:
It is the only index that provides a weekly capacity-weighted measure of the average change in international prices of a basket of petrochemicals produced in the Gulf region.
Internally -consumed products which are used as a feedstock for producing other petrochemicals and are not sold regularly in the international market like ethylene, propylene and ammonia represent smaller weight in the index.
Final products sold in international markets such as Polyethylene, polypropylene, MTBE, MEG and urea represent the biggest index weights.
Naphtha prices, the main feedstock benchmark, correlate negatively with the index. The index products’ weights are reviewed periodically.
As of Jan 1, 2002 the index started at 100 points.
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