|
Argaam Petrochemical Index |
|
|
231.8 |
Argaam Index (April 5) |
|
+2.0% |
Weekly change |
|
(16.4%) |
6 months change |
|
(16.5%) |
1-year change |
Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, added 4.6 points to 231.8 points by the end of last week compared to the previous week as polymers advanced.
Naphtha feedstock dropped $25 to $525 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 costs to Japan (April 5) |
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|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(43%) |
(36%) |
(5%) |
525 |
Naphtha * |
|
(43%) |
(36%) |
(5%) |
378 |
Propane ** |
* CFR Japan.
** Approximate price in Saudi Arabia (28% discount for Naphtha).
Polymers continued a gain last week on tight supply. Traders were building stockpiles amid disruption in production due to scheduled maintenance and disruption in production in other plants.
The prices of ethylene and propylene feedstock added $65 and $5 a ton respectively contributing to higher polymers prices.
High-density polyethylene (HDPE) rose $50 to $1,310 a ton. Polypropylene added $25 to $1,245 a ton, while Ammonia decreased $25 to $410 a ton.
Fertilizers continued a drop on higher supply and lower cost of production in Ukraine because of lower prices of Russian gas. Urea dropped to a 5-year low, losing $20 to $255 a ton.
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Basic Petrochemicals (April 5) - Asian markets |
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|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(11%) |
(18%) |
+6% |
1,225 |
Ethylene* |
|
(25%) |
(23%) |
+1% |
995 |
Propylene* |
|
(40%) |
(35%) |
(1%) |
765 |
Benzene* |
|
(28%) |
(21%) |
+1% |
1,160 |
Styrene* |
|
(24%) |
(16%) |
-- |
365 |
Methanol (Methanex)** |
|
(10%) |
(15%) |
+2% |
310 |
Methanol (China)*** |
|
(39%) |
(33%) |
(5%) |
680 |
MTBE**** |
* FOB-East Asia (Japan, Taiwan and Korea).
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
|
Polymers Prices (April 5) - Asian markets |
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|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(15%) |
(15%) |
+4% |
1,310 |
Polyethylene* |
|
(17%) |
(18%) |
+2% |
1,245 |
Polypropylene |
|
(27%) |
(21%) |
+2% |
1,260 |
Poly Styrene |
|
(14%) |
(12%) |
----- |
880 |
PVC |
|
(2%) |
(6%) |
+3% |
2,450 |
PCB |
* High-density polyethylene.
|
Intermediates (April 5) - Asian markets |
|||||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|||
|
(11%) |
(7%) |
+1% |
840 |
Spot MEG - china |
|||
|
(14%) |
(14%) |
-- |
960 |
MEG (SABIC) |
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|
(32%) |
(33%) |
+2% |
610 |
PTA |
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Fertilizers (April 5) - Gulf Arab Countries |
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|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(18%) |
(24%) |
(7%) |
255 |
Urea |
|
(18%) |
(29%) |
(6%) |
410 |
Ammonia |
|
+5% |
(2%) |
-- |
480 |
DAP* |
|
Titanium Dioxide (April 5) |
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|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(11%) |
(11%) |
(3%) |
2,500 |
Tio2 (Asia) |
|
(23%) |
(19%) |
+1% |
2,475 |
Tio2 (Europe) |
|
(8%) |
(8%) |
-- |
3,190 |
Tio2 (America) |
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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 |
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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 |
|
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, polystyrene. |
Petrochem |
|
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 |
|
Polypropylene |
Advanced |
|
Polypropylene. |
Alujain |
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Formaldehyde - improvers concrete |
CHEMANOL |
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Epoxy resin, hydrochloric acid, liquid caustic soda, soda granules. |
NAMA |
|
Ammonia and DAP |
MAADEN |
Argaam Petrochemical Index is the only index that provides weekly capacity-weighted measures for the average changes of international prices of several petrochemical products manufactured in the Gulf Arab countries.
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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