Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, declined 1.2 points to 245.5 points by the end of last week, as the prices of several chemicals in the region declined.
|
Argaam Petrochemical Index |
|
|
245.5 |
Argaam Index (May 31) |
|
( 0.5 % ) |
Weekly change |
|
+ 0.6 % |
6 months change |
|
( 14.1 % ) |
1-year change |
Naphtha feedstock decreased $15 to $560 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 costs to Japan (May 31) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 42 % ) |
( 10 % ) |
( 3 % ) |
560 |
Naphtha * |
|
( 42 % ) |
( 10 % ) |
( 3 % ) |
403 |
Propane ** |
**Approximate price in Saudi Arabia (28% discount for Naphtha)
Overall, prices were mixed last week.
Ethylene, benzene, and MTBE gained on lower supply in the spot markets, while styrene and MEG declined.
Styrene dropped $115 a ton, after sliding $70 a ton last week because of oversupply from North America.
MEG lost $40 to $905 a ton on a drop in demand from PET and polyester producers in China.
Polyethylene and polypropylene prices were unchanged.
Methanex Corp, the world’s largest producer of methanol, maintained the prices of its June contract in the Asian markets at $390 a ton.
|
Basic Petrochemicals (May 31) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
+ 1 % |
+ 28 % |
+ 3 % |
1380 |
Ethylene* |
|
( 32 % ) |
( 4 % ) |
( 1 % ) |
930 |
Propylene* |
|
( 40 % ) |
( 16 % ) |
+ 5 % |
770 |
Benzene* |
|
( 19 % ) |
+ 11 % |
( 8 % ) |
1260 |
Styrene* |
|
( 9 % ) |
( 6 % ) |
-- |
390 |
Methanol (Methanex)** |
|
( 6 % ) |
( 3 % ) |
-- |
320 |
Methanol (China)*** |
|
( 26 % ) |
( 2 % ) |
( 1 % ) |
810 |
MTBE**** |
**ACP "Methanex"
***Methanol prices in China.
****Spot – Singapore.
|
Polymers Prices (May 31) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 14 % ) |
( 1 % ) |
-- |
1355 |
Polyethylene* |
|
( 16 % ) |
( 5 % ) |
-- |
1285 |
Polypropylene |
|
( 13 % ) |
+ 7 % |
( 1 % ) |
1490 |
Poly Styrene |
|
( 18 % ) |
( 4 % ) |
( 1 % ) |
865 |
PVC |
|
+ 3 % |
( 3 % ) |
+ 1 % |
2575 |
PCB |
|
Intermediates (May 31) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 5 % ) |
+ 9 % |
( 4 % ) |
905 |
Spot MEG - china |
|
+ 3 % |
+ 12 % |
-- |
1120 |
MEG (SABIC) |
|
( 23 % ) |
( 9 % ) |
( 7 % ) |
690 |
PTA |
|
Fertilizers (May 31) - Gulf Arab Countries |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
+ 9 % |
( 2 % ) |
+ 2 % |
310 |
Urea |
|
( 18 % ) |
( 37 % ) |
( 1 % ) |
390 |
Ammonia |
|
+ 7 % |
-- |
-- |
480 |
DAP* |
|
Titanium Dioxide (May 31) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 9 % ) |
( 7 % ) |
+ 2 % |
2550 |
Tio2 (Asia) |
|
( 25 % ) |
( 16 % ) |
( 2 % ) |
2420 |
Tio2 (Europe) |
|
( 11 % ) |
( 11 % ) |
( 3 % ) |
3080 |
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, polystyrene. |
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 |
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.
The index started at 100 points as of January 1, 2002.
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