|
Argaam Petrochemical Index |
|
|
223.4 |
Argaam Index ( December 14, 2014) |
|
(6.0%) |
Weekly change |
|
(20.2%) |
6 months change |
|
(21.4%) |
1 year change |
Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, dropped 14.2 points to 223.4 points by the end of last week compared to the previous week as the prices of basic products in the Asian spot markets plummetted to levels that have not been reached since the global financial crisis.
Naftha feedstock declined $80 to $510 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.
Propylene declined $160 to $690 a ton, benzene lost $190 to $685 a ton, styrene dropped $210 to $830 a ton. Ethylene and MTBE dropped also.
|
Prices of Naphtha including shipping cost to Japan ( December 14, 2014) |
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|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
(47%) |
(48%) |
(14%) |
510 |
NAFTHA * |
|
(47%) |
(48%) |
(14%) |
367 |
Propane ** |
** Approximate price in Saudi Arabia (28% discount for NAFTHA).
Polymers declined less sharply last week on low trading volumes as buyers anticipated the January contracts prices.
High Density Polyethylene (HDPE) dropped $75 to $1,290 a ton. Polypropylene lost $75 to $1,215 a ton. Buyers in India and China demanded that the final prices of the shipments were determined when delivered not when shipped because of the declining prices, traders said.
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basic petrochemicals (December 14, 2014 ) - Asian markets |
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|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
(30%) |
(31%) |
(9%) |
950 |
Ethylene* |
|
(51%) |
(49%) |
(19%) |
690 |
Propylene* |
|
(48%) |
(49%) |
(22%) |
685 |
Benzene* |
|
(50%) |
(47%) |
(20%) |
830 |
Styrene* |
|
(25%) |
(3%) |
-- |
415 |
Methanol (Methanex)** |
|
(45%) |
(9%) |
(9%) |
300 |
Methanol (China)*** |
|
(35%) |
(36%) |
(5%) |
705 |
MTBE**** |
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
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Polymers prices ( December 14, 2014 ) - Asian markets |
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|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
(17%) |
(19%) |
(5%) |
1290 |
Polyethylene* |
|
(22%) |
(20%) |
(6%) |
1215 |
Polypropylene |
|
(28%) |
(24%) |
(3%) |
1290 |
Poly Styrene |
|
(14%) |
(16%) |
(1%) |
875 |
PVC |
|
+3% |
+4% |
-- |
2575 |
PCB |
|
Intermediates ( December 14, 2014 ) - Asian markets |
|||||||
|
1 year change |
6 months change |
Weekly change |
Price |
product |
|||
|
(27%) |
(24%) |
(9%) |
760 |
Spot MEG - china |
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|
(17%) |
(8%) |
-- |
1000 |
MEG (SABIC) |
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|
(31%) |
(28%) |
(7%) |
690 |
PTA |
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Fertilizers (December 14, 2014 ) - Gulf Arab |
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|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
(9%) |
+5% |
+2% |
320 |
Urea |
|
+36% |
+27% |
(2%) |
605 |
Ammonia |
|
+20% |
+7% |
-- |
480 |
DAP* |
|
Titanium Dioxide ( December 14, 2014) |
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|
1 year change |
6 months change |
Weekly change |
Price |
product |
|
(4%) |
(2%) |
-- |
2750 |
Tio2 (Asia) |
|
(12%) |
(10%) |
-- |
2860 |
Tio2 (Europe) |
|
-- |
-- |
-- |
3465 |
Tio2 (America) |
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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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 |
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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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Polyethylene, polypropylene, propylene oxide, and refined petroleum products. |
Petro Rabigh |
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Polyethylene, polypropylene, poly styrene. |
Petrochem |
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Polyethylene, polypropylene. |
Sahara Petrochemicals |
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Styrene, benzene, Cyclohexene, propylene. |
Saudi Group |
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Methanol, Butanol, acetic acid, vinyl acetate monomer. |
Sipchem |
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PP. |
Advanced |
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Polypropylene. |
Alujain |
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Formaldehyde - improvers concrete |
CHEMANOL |
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Epoxy resin, hydrochloric acid, liquid caustic soda, soda granules. |
NAMA |
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Ammonia and DAP |
MAADEN |
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