Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in Saudi Arabia and the Gulf, dropped 2.8 points to 194.3 points by the end of the week, its lowest level since mid-2010.
Since June 7, the gauge has been posting losses for 14 consecutive weeks, falling from 246.1 points to the current level.
On Feb. 1, the index dropped to 194.9 points— the lowest level this year— before climbing back to above 250 points in May.
|
Argaam Petrochemical Index |
|
|
194.3 |
Argaam Index (September 6) |
|
( 1.4 % ) |
Weekly change |
|
( 11.2 % ) |
6 months change |
|
( 31.1 % ) |
1-year change |
Naphtha feedstock gained for the first time in 12 weeks, adding $35 to $445 a ton.
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 (September 6) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 51 % ) |
( 18 % ) |
+ 9 % |
445 |
Naphtha * |
|
( 51 % ) |
( 18 % ) |
+ 9 % |
320 |
Propane ** |
**Approximate price in Saudi Arabia (28% discount for Naphtha)
Negative sentiments prevailed among traders last week as concern over the global economic situation, particularly in China, continued.
Polypropylene declined $5 to $990 a ton. Polyethylene dropped $20 to $1,130 a ton.
Methanex Corporation, the world’s biggest methanol producer, cut the prices of methanol September contract in the Asian markets by $45 to $315 a ton.
|
Basic Petrochemicals (September 6) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 50 % ) |
( 27 % ) |
( 3 % ) |
750 |
Ethylene* |
|
( 46 % ) |
( 31 % ) |
+ 2 % |
710 |
Propylene* |
|
( 53 % ) |
( 27 % ) |
+ 2 % |
575 |
Benzene* |
|
( 36 % ) |
( 19 % ) |
( 2 % ) |
940 |
Styrene* |
|
( 25 % ) |
( 5 % ) |
( 13 % ) |
315 |
Methanol (Methanex)** |
|
( 35 % ) |
( 23 % ) |
( 2 % ) |
230 |
Methanol (China)*** |
|
( 34 % ) |
( 6 % ) |
+ 9 % |
690 |
MTBE**** |
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
|
Polymers Prices (September 6) – Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 28 % ) |
( 6 % ) |
( 2 % ) |
1,130 |
Polyethylene* |
|
( 35 % ) |
( 15 % ) |
( 1 % ) |
990 |
Polypropylene |
|
( 31 % ) |
-- |
+ 1 % |
1,160 |
Poly Styrene |
|
( 23 % ) |
( 5 % ) |
+ 1 % |
800 |
PVC |
|
( 13 % ) |
( 4 % ) |
-- |
2,275 |
PCB |
|
Intermediates (September 6) – Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 28 % ) |
( 15 % ) |
( 1 % ) |
700 |
Spot MEG - china |
|
( 17 % ) |
+ 8 % |
-- |
950 |
MEG (SABIC) |
|
( 44 % ) |
( 14 % ) |
( 1 % ) |
550 |
PTA |
|
Fertilizers (September 6) - Gulf Arab Countries |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 21 % ) |
( 3 % ) |
( 3 % ) |
280 |
Urea |
|
( 22 % ) |
( 10 % ) |
-- |
405 |
Ammonia |
|
( 2 % ) |
-- |
-- |
480 |
DAP* |
|
Titanium Dioxide (September 6) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
( 16 % ) |
( 9 % ) |
-- |
2350 |
Tio2 (Asia) |
|
( 22 % ) |
( 3 % ) |
-- |
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.
" Argaam Reports "
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