Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, declined 3.1 points to 237.8 points by the end of last week, as the prices of basic materials, urea, and MEG dropped.
|
Argaam Petrochemical Index |
|
|
237.8 |
Argaam Index (July 5) |
|
( 1.3 % ) |
Weekly change |
|
+ 14.6 % |
6 months change |
|
( 16.2 % ) |
1-year change |
Naphtha feedstock decreased $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 costs to Japan (July 5) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 44 % ) |
+ 17 % |
( 1 % ) |
545 |
Naphtha * |
|
( 44 % ) |
+ 17 % |
( 1 % ) |
392 |
Propane ** |
**Approximate price in Saudi Arabia (28% discount for Naphtha)
Prices went down as end producers were cautious over the possibility of further price drops in the coming weeks.
The prices of basic materials declined significantly last week on concerns about repercussions of the Greek financial crisis and panic over the steep decline of Shanghai stock exchange.
Prices of basic materials dropped as Ethylene fell $100 to $1,290 a ton and propylene decreased $40 to $915 a ton. Styrene and MTBE also declined.
Urea lost $15, dropping below $300 amid weaker seasonal demand.
High-density polyethylene (HDPE) bucked the trend, adding $20 a ton after four weeks of declines. Polypropylene was unchanged.
|
Basic Petrochemicals (July 5) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 10 % ) |
+ 45 % |
( 7 % ) |
1290 |
Ethylene* |
|
( 34 % ) |
+ 39 % |
( 4 % ) |
915 |
Propylene* |
|
( 42 % ) |
+ 18 % |
( 4 % ) |
795 |
Benzene* |
|
( 20 % ) |
+ 36 % |
( 2 % ) |
1285 |
Styrene* |
|
( 9 % ) |
+ 6 % |
( 4 % ) |
375 |
Methanol (Methanex)** |
|
( 7 % ) |
+ 27 % |
-- |
310 |
Methanol (China)*** |
|
( 33 % ) |
+ 21 % |
( 3 % ) |
755 |
MTBE**** |
**ACP "Methanex"
***Methanol prices in China
****Spot – Singapore
|
Polymers Prices (July 5) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 17 % ) |
+ 14 % |
+ 2 % |
1325 |
Polyethylene* |
|
( 21 % ) |
+ 8 % |
-- |
1210 |
Polypropylene |
|
( 18 % ) |
+ 28 % |
( 1 % ) |
1410 |
Poly Styrene |
|
( 18 % ) |
+ 8 % |
+ 1 % |
855 |
PVC |
|
+ 3 % |
( 1 % ) |
-- |
2550 |
PCB |
|
Intermediates (July 5) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 9 % ) |
+ 22 % |
( 3 % ) |
915 |
Spot MEG - china |
|
( 3 % ) |
+ 16 % |
-- |
1100 |
MEG (SABIC) |
|
( 29 % ) |
+ 12 % |
( 1 % ) |
710 |
PTA |
|
Fertilizers (July 5) - Gulf Arab Countries |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 6 % ) |
( 11 % ) |
( 5 % ) |
290 |
Urea |
|
( 15 % ) |
( 27 % ) |
-- |
390 |
Ammonia |
|
+ 5 % |
-- |
-- |
480 |
DAP* |
|
Titanium Dioxide (July 5) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 11 % ) |
( 9 % ) |
-- |
2500 |
Tio2 (Asia) |
|
( 23 % ) |
( 14 % ) |
-- |
2455 |
Tio2 (Europe) |
|
( 11 % ) |
( 11 % ) |
-- |
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 |
About Argaam Petrochemical Index:
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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