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Argaam Petrochemical Index rises as basic petrochemicals gain
AI Summary
Content Summary: 
Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, added 7.6 points to 227.2 points by the end of last week compared to the previous week as the prices of basic petrochemicals and polymers advanced.
|
Argaam Petrochemical Index |
|
|
227.2 |
Argaam Index (March 29) |
|
+3.4% |
Weekly change |
|
(18.7%) |
6 months change |
|
(18.9%) |
1-year change |
Naphtha feedstock gained $45 to $550 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 (March 29) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(41%) |
(35%) |
+9% |
550 |
Naphtha * |
|
(41%) |
(35%) |
+9% |
396 |
Propane ** |
* CFR Japan.
** Approximate price in Saudi Arabia (28% discount for Naphtha).
East Asia’s spot market prices of basic petrochemicals rose between five to eight percent last week on higher prices of Brent crude oil and tight supply of petrochemicals, particularly ethylene.
Polymers advanced last week. High-density polyethylene (HDPE) added $30 to $1,260 a ton. Polypropylene rose $45 to $1,220 a ton.
Methanex Corporation, the world’s largest producer of methanol, increased by $35 to $365 a ton for April’s contract prices in the Asian markets.
|
Basic Petrochemicals (March 29) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(16%) |
(23%) |
+6% |
1,160 |
Ethylene* |
|
(25%) |
(24%) |
+5% |
990 |
Propylene* |
|
(38%) |
(36%) |
+7% |
770 |
Benzene* |
|
(28%) |
(23%) |
+8% |
1,145 |
Styrene* |
|
(38%) |
(16%) |
+11% |
365 |
Methanol (Methanex)** |
|
(12%) |
(16%) |
+3% |
305 |
Methanol (China)*** |
|
(36%) |
(31%) |
+6% |
715 |
MTBE**** |
* FOB-East Asia (Japan, Taiwan and Korea).
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
|
Polymers Prices (March 29) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(18%) |
(19%) |
+2% |
1,260 |
Polyethylene* |
|
(18%) |
(19%) |
+4% |
1,220 |
Polypropylene |
|
(28%) |
(24%) |
+1% |
1,230 |
Poly Styrene |
|
(14%) |
(13%) |
+1% |
880 |
PVC |
|
(5%) |
(9%) |
-- |
2,375 |
PCB |
* High-density polyethylene.
|
Intermediates (March 29) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(12%) |
(8%) |
+3% |
835 |
Spot MEG - china |
|
(14%) |
(14%) |
-- |
960 |
MEG (SABIC) |
|
(34%) |
(35%) |
(3%) |
600 |
PTA |
|
Fertilizers (March 29) - Gulf Arab Countries |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(14%) |
(21%) |
-- |
275 |
Urea |
|
(9%) |
(24%) |
-- |
435 |
Ammonia |
|
+5% |
(2%) |
-- |
480 |
DAP* |
* Export price from Saudi Arabia
|
Titanium Dioxide (March 29) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(8%) |
(8%) |
-- |
2,575 |
Tio2 (Asia) |
|
(24%) |
(20%) |
-- |
2,445 |
Tio2 (Europe) |
|
(8%) |
(8%) |
-- |
3,190 |
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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