|
Argaam Petrochemical Index |
|
|
283.8 |
Argaam Index ( July 6, 2014) |
|
+0.2% |
Weekly change |
|
(0.4%) |
6 months change |
|
+4.8% |
1 year change |
July 6, 2014
Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, added 0.5 point to 283.8 points by the end of last week compared to the previous week as polymers prices improved.
Naftha declined $5 to $975 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.
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Prices of Naphtha including shipping cost to Japan ( July 6, 2014) |
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|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
+11% |
+2% |
(1%) |
975 |
NAFTHA * |
|
+11% |
+2% |
(1%) |
702 |
Propane ** |
* CFR Japan.
** Approximate price in Saudi Arabia (28% discount for NAFTHA).
Polyethylene and polypropylene each gained $10 to $1600 and $1540 a ton respectively last week on the back of higher prices of ethylene and propylene feedstock.
MEG declined $20 to $1000 a ton on lower demand for polyesters and PET.
Methanex Corp, the world’s biggest producer of methanol, dropped by $20 to $410 a ton the price of methanol July contracts in the Asian markets compared to June contracts. Methanol monthly contract prices have declined about $180 from the price level prevailed in the first three months of the year.
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basic petrochemicals ( July 6, 2014 ) - Asian markets |
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|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
+17% |
+3% |
+2% |
1435 |
Ethylene* |
|
+3% |
(2%) |
+1% |
1395 |
Propylene* |
|
+15% |
+2% |
(4%) |
1370 |
Benzene* |
|
(5%) |
(5%) |
-- |
1610 |
Styrene* |
|
(9%) |
(31%) |
(5%) |
410 |
Methanol (Methanex)** |
|
(6%) |
(37%) |
-- |
335 |
Methanol (China)*** |
|
(5%) |
+2% |
+1% |
1120 |
MTBE**** |
* FOB-East Asia (Japan, Taiwan and Korea).
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
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Polymers prices ( July 6, 2014 ) - Asian markets |
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|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
+11% |
+5% |
+1% |
1600 |
Polyethylene* |
|
+7% |
-- |
+1% |
1540 |
Polypropylene |
|
(5%) |
(4%) |
+1% |
1730 |
Poly Styrene |
|
+3% |
+3% |
-- |
1045 |
PVC |
|
(1%) |
(1%) |
-- |
2485 |
PCB |
* High density polyethylene.
|
Intermediates ( July 6, 2014 ) - Asian markets |
|||||||
|
1 year change |
6 months change |
Weekly change |
Price |
product |
|||
|
+3% |
(2%) |
(2%) |
1000 |
Spot MEG - china |
|||
|
+3% |
(6%) |
-- |
1130 |
MEG (SABIC) |
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|
(6%) |
-- |
+1% |
1000 |
PTA |
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|
Fertilizers ( July 6, 2014 ) - Gulf Arab |
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|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
-- |
(11%) |
-- |
310 |
Urea |
|
(6%) |
+3% |
-- |
460 |
Ammonia |
|
(9%) |
+14% |
-- |
455 |
DAP* |
* Export price from Saudi Arabia.
|
Titanium Dioxide ( July 6, 2014) |
||||
|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
+2% |
(2%) |
-- |
2800 |
Tio2 (Asia) |
|
+2% |
(3%) |
-- |
3170 |
Tio2 (Europe) |
|
(3%) |
-- |
-- |
3465 |
Tio2 (America) |
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 represents 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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End products for the Saudi petrochemical companies |
|
|
Finished products |
Company |
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Polyethylene , polypropylene , poly styrene , ethylene glycol (MEG), methyl tert- butyl ether (MTBE), benzene , urea , ammonia , PVC, and PTA |
SABIC |
|
Urea, ammonia. |
SAFCO |
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Polyethylene, polypropylene, ethylene glycol (MEG), methyl tert- butyl ether (MTBE), benzene. |
YANSAB |
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Polyethylene, polypropylene, propylene. (TiO2) |
Tasnee |
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Polyethylene, polypropylene, ethylene glycol (MEG), polycarbonate, and bisphenol A. |
Saudi Kayan |
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