Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, declined 2.5 points to 227.3 points by the end of last week, as uncertainty over the global economic outlook weighed on prices.
|
Argaam Petrochemical Index |
|
|
227.3 |
Argaam Index (July 26) |
|
( 1.1 % ) |
Weekly change |
|
+ 13.8 % |
6 months change |
|
( 20.3 % ) |
1-year change |
Naphtha feedstock decreased $5 to $490 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 26) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 49 % ) |
+ 14 % |
( 1 % ) |
490 |
Naphtha * |
|
( 49 % ) |
+ 14 % |
( 1 % ) |
353 |
Propane ** |
*CFR Japan.
**Approximate price in Saudi Arabia (28% discount for Naphtha)
End buyers in East Asia’s spot markets were wary over the global economic situation last week after the prices of commodities, like copper and gold, declined. Traders were also waiting for Middle Eastern producers to announce August contracts prices following the Eid al-Fitr holiday.
Basic materials dropped slightly.
Ethylene Glycol declined to the lowest since March, losing $45 to $820 a ton.
Polypropylene continued dropping for the 11th consecutive week, falling $25 to $1,135 a ton, while high-density polyethylene (HDPE) was unchanged.
Fertilizers were mainly unchanged from last week. Official data showed that China’s urea exports increased 62 percent to 6.72 million tons in the first half of 2015.
|
Basic Petrochemicals (July 26) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 25 % ) |
+ 33 % |
( 1 % ) |
1145 |
Ethylene* |
|
( 40 % ) |
+ 6 % |
-- |
845 |
Propylene* |
|
( 42 % ) |
+ 16 % |
+ 4 % |
795 |
Benzene* |
|
( 28 % ) |
+ 33 % |
( 1 % ) |
1180 |
Styrene* |
|
( 9 % ) |
+ 6 % |
-- |
375 |
Methanol (Methanex)** |
|
( 13 % ) |
+ 23 % |
( 2 % ) |
290 |
Methanol (China)*** |
|
( 30 % ) |
+ 33 % |
( 1 % ) |
725 |
MTBE**** |
*FOB-East Asia (Japan, Taiwan and Korea).
**ACP "Methanex"
***Methanol prices in China.
****Spot – Singapore.
|
Polymers Prices (July 26) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 18 % ) |
+ 15 % |
-- |
1310 |
Polyethylene* |
|
( 27 % ) |
+ 14 % |
( 2 % ) |
1135 |
Polypropylene |
|
( 21 % ) |
+ 24 % |
+ 1 % |
1365 |
Poly Styrene |
|
( 19 % ) |
+ 5 % |
-- |
855 |
PVC |
|
( 1 % ) |
+ 3 % |
( 3 % ) |
2475 |
PCB |
*High-density polyethylene
|
Intermediates (July 26) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 18 % ) |
+ 12 % |
( 5 % ) |
820 |
Spot MEG - china |
|
( 11 % ) |
+ 16 % |
-- |
1020 |
MEG (SABIC) |
|
( 35 % ) |
+ 11 % |
( 2 % ) |
645 |
PTA |
|
Fertilizers (July 26) - Gulf Arab Countries |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 13 % ) |
( 16 % ) |
-- |
280 |
Urea |
|
( 14 % ) |
( 22 % ) |
-- |
395 |
Ammonia |
|
+ 3 % |
-- |
-- |
480 |
DAP* |
*Export price from Saudi Arabia
|
Titanium Dioxide (July 26) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 16 % ) |
( 10 % ) |
( 6 % ) |
2350 |
Tio2 (Asia) |
|
( 28 % ) |
( 16 % ) |
( 6 % ) |
2305 |
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 |
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.
" Argaam Reports "
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