Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, declined 6.0 points to 197.1 points by the end of last week, on continuous concern over the economy of China, the world’s biggest petrochemicals importer.
|
Argaam Petrochemical Index |
|
|
197.1 |
Argaam Index (August 30) |
|
( 2.9 % ) |
Weekly change |
|
( 5.2 % ) |
6 months change |
|
( 30.4 % ) |
1-year change |
Naphtha feedstock decreased $15 to $410 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 (August 30) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 54 % ) |
( 25 % ) |
( 4 % ) |
410 |
Naphtha * |
|
( 54 % ) |
( 25 % ) |
( 4 % ) |
295 |
Propane ** |
** Approximate price in Saudi Arabia (28% discount for Naphtha).
The prices of most materials declined last week on negative sentiments among traders and increasing concern over the Chinese economy.
Ethylene and propylene declined in the spot markets as high volatility of the equity and currency markets fueled traders’ concern.
High-density polyethylene (HDPE) fell $35 to $1,150 a ton; polypropylene dropped $40 to below $1,000 a ton.
MEG producers, led by SABIC, decreased the prices of September contracts in the Asian markets. SABIC, Saudi Arabia Basic Industries Corp, cut the prices of September contract by $70 to $950 a ton. MEG is a key raw material in the manufacture of polyester (PET).
|
Basic Petrochemicals (August 30) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 48 % ) |
( 20 % ) |
( 11 % ) |
770 |
Ethylene* |
|
( 48 % ) |
( 24 % ) |
( 13 % ) |
695 |
Propylene* |
|
( 56 % ) |
( 18 % ) |
( 3 % ) |
565 |
Benzene* |
|
( 37 % ) |
( 8 % ) |
+ 4 % |
955 |
Styrene* |
|
( 14 % ) |
+ 9 % |
-- |
360 |
Methanol (Methanex)** |
|
( 34 % ) |
( 10 % ) |
( 2 % ) |
235 |
Methanol (China)*** |
|
( 37 % ) |
( 14 % ) |
( 3 % ) |
635 |
MTBE**** |
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
|
Polymers Prices (August 30) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 28 % ) |
+ 2 % |
( 3 % ) |
1,150 |
Polyethylene* |
|
( 35 % ) |
( 6 % ) |
( 4 % ) |
995 |
Polypropylene |
|
( 32 % ) |
-- |
( 6 % ) |
1,150 |
Poly Styrene |
|
( 24 % ) |
( 6 % ) |
( 5 % ) |
790 |
PVC |
|
( 9 % ) |
( 2 % ) |
-- |
2,275 |
PCB |
|
Intermediates (August 30) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 28 % ) |
( 16 % ) |
+ 1 % |
705 |
Spot MEG - china |
|
( 17 % ) |
+ 8 % |
( 7 % ) |
950 |
MEG (SABIC) |
|
( 45 % ) |
( 8 % ) |
( 5 % ) |
555 |
PTA |
|
Fertilizers (August 30) - Gulf Arab Countries |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 18 % ) |
( 3 % ) |
+ 2 % |
290 |
Urea |
|
( 22 % ) |
( 10 % ) |
+ 1 % |
405 |
Ammonia |
|
( 2 % ) |
-- |
-- |
480 |
DAP* |
|
Titanium Dioxide (August 30) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 16 % ) |
( 9 % ) |
-- |
2350 |
Tio2 (Asia) |
|
( 25 % ) |
( 7 % ) |
-- |
2380 |
Tio2 (Europe) |
|
( 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 |
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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