Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, added 1.7 points to 203.9 points by the end of last week compared to the previous week as prices of polymers and basic petrochemicals gained.
|
Argaam Petrochemical Index |
|
|
203.9 |
Argaam Index (Feb.22) |
|
+0.9% |
Weekly change |
|
(28.0%) |
6 months change |
|
(27.2%) |
1-year change |
Naftha feedstock added $5 to $545 a ton last week.
The prices of Saudi natural gas liquids (NGL) such as propane and butane are set at 28 percent below the Japanese Naphtha benchmark, excluding freight costs.
|
Prices of Naphtha including shipping cost to Japan (Feb.22, 2015) |
||||
|
1 year change |
6 months change |
Weekly change |
Price |
Product |
|
(41%) |
(39%) |
+1% |
545 |
Naphtha * |
|
(41%) |
(39%) |
+1% |
396 |
Propane ** |
* CFR Japan.
** Approximate price in Saudi Arabia (28% discount for Naphtha).
Basic petrochemicals and polymers gained 1 to 2 percent as naphtha prices improved. Prices were also supported by a spike in orders ahead of the one-week holiday to mark the New Year in some Asian countries and China, the world’s biggest petrochemicals importer.
Fertilizers bucked the trend. Urea and ammonia dropped on lower seasonal demand.
|
Basic Petrochemicals (Feb.22) - Asian markets |
||||
|
1-yearchange |
6 months change |
Weekly change |
Price |
Product |
|
(35%) |
(39%) |
+1% |
910 |
Ethylene* |
|
(39%) |
(36%) |
+1% |
855 |
Propylene* |
|
(49%) |
(50%) |
-- |
660 |
Benzene* |
|
(39%) |
(38%) |
+1% |
970 |
Styrene* |
|
(47%) |
(23%) |
-- |
315 |
Methanol (Methanex)** |
|
(48%) |
(28%) |
+2% |
255 |
Methanol (China)*** |
|
(38%) |
(30%) |
+1% |
700 |
MTBE**** |
* FOB-East Asia (Japan, Taiwan and Korea).
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
|
Polymers Prices (Feb.22) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(25%) |
(29%) |
+1% |
1130 |
Polyethylene* |
|
(30%) |
(31%) |
+2% |
1045 |
Polypropylene |
|
(35%) |
(33%) |
+1% |
1150 |
Poly Styrene |
|
(21%) |
(20%) |
+1% |
840 |
PVC |
|
(7%) |
(7%) |
-- |
2325 |
PCB |
* High density polyethylene.
|
Intermediates (Feb.22) - Asian markets |
|||||||
|
1 year change |
6 months change |
Weekly change |
Price |
Product |
|||
|
(13%) |
(19%) |
-- |
805 |
Spot MEG - china |
|||
|
(25%) |
(23%) |
-- |
880 |
MEG (SABIC) |
|||
|
(35%) |
(42%) |
+2% |
600 |
PTA |
|||
|
Fertilizers (Feb.22) - Gulf Arab |
||||
|
1 year change |
6 months change |
Weekly change |
Price |
Product |
|
(18%) |
(11%) |
(2%) |
315 |
Urea |
|
(6%) |
(16%) |
(4%) |
425 |
Ammonia |
|
+17% |
+1% |
-- |
480 |
DAP* |
* Export price from Saudi Arabia
|
Titanium Dioxide (Feb.22) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(9%) |
(8%) |
-- |
2575 |
Tio2 (Asia) |
|
(20%) |
(19%) |
-- |
2555 |
Tio2 (Europe) |
|
(8%) |
(8%) |
-- |
3190 |
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 |
|
Polypropylene. |
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:
Internally consumed products, which are used as feedstock for producing other petrochemicals, represent smaller weights on the index. These products— such as ethylene, propylene and ammonia— are not sold regularly in the international market.
Final products sold in international markets such as polyethylene, polypropylene, MTBE, MEG and urea represent the biggest weights on the index.
Naphtha prices, the main feedstock benchmark, correlate negatively with the index. The weights of products on the index are reviewed periodically.
As of January 1, 2002 the index started at 100 points.
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