AI Summary
Argaam Petrochemical Index, which measures the average price changes for a basket of petrochemicals in the Gulf Arab countries, was back in the green this week, with a gain of 8.1 points to reach 203, compared to 194.9 points during the previous week.
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Argaam Petrochemical Index |
|
|
203.0 |
Argaam Index (Feb.8) |
|
+4.2% |
Weekly change |
|
(29.0%) |
6 months change |
|
(28.6%) |
1-year change |
Naphtha feedstock rebounded to $510 per ton this week, buoyed by higher global Brent futures, logging a rise of $65 compared to the previous week’s level.
Prices of propane and other gas liquids, such as butane are fixed for Saudi Arabian companies at a discount of nearly 28 percent compared to Japan Naphtha prices, minus freight costs.
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Prices of Naphtha including shipping costs to Japan (Feb.8) |
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1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(45%) |
(45%) |
+15% |
510 |
Naphtha * |
|
(45%) |
(45%) |
+15% |
367 |
Propane ** |
* CFR Japan.
** Approximate price in Saudi Arabia (28% discount for Naphtha).
Prices of most products— except for fertilizers and titanium dioxide (TiO2)— increased significantly, driven by improved oil and feedstock prices, as well as stock rebuilding by end buyers.
Polypropylene prices snapped their downtrend, rising above $1,000 after making a break below that level for the first time in five years last week.
Polyethylene prices jumped $60 to $1,160 per ton. Basic products were significantly per ton. Monoethylene Glycol (MEG) reached $790 per ton, with a jump of $50 week-on-week. higher this week, led by Methyl Tertiary Butyl Ether (MTBE), which gained $95 to $650
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Basic Petrochemicals (Feb.8) - Asian markets |
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1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(38%) |
(43%) |
+4% |
865 |
Ethylene* |
|
(43%) |
(42%) |
+1% |
805 |
Propylene* |
|
(43%) |
(41%) |
+9% |
655 |
Benzene* |
|
(43%) |
(41%) |
+6% |
940 |
Styrene* |
|
(47%) |
(23%) |
-- |
315 |
Methanol (Methanex)** |
|
(52%) |
(30%) |
+2% |
240 |
Methanol (China)*** |
|
(40%) |
(36%) |
+17% |
650 |
MTBE**** |
* FOB-East Asia (Japan, Taiwan and Korea).
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
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Polymers Prices (Feb. 8) - Asian markets |
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|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(25%) |
(28%) |
+5% |
1160 |
Polyethylene* |
|
(32%) |
(34%) |
+3% |
1020 |
Polypropylene |
|
(38%) |
(35%) |
+2% |
1125 |
Poly Styrene |
|
(23%) |
(23%) |
----- |
815 |
PVC |
|
(7%) |
(7%) |
(3%) |
2325 |
PCB |
* High-density polyethylene.
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Intermediates (Feb. 8) - Asian markets |
|||||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|||
|
(20%) |
(21%) |
+7% |
790 |
Spot MEG - china |
|||
|
(25%) |
(23%) |
-- |
880 |
MEG (SABIC) |
|||
|
(38%) |
(43%) |
+3% |
590 |
PTA |
|||
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Fertilizers (Feb.8) - Gulf Arab Countries |
||||
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1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(17%) |
(3%) |
(2%) |
325 |
Urea |
|
+1% |
(5%) |
(3%) |
455 |
Ammonia |
|
+17% |
+1% |
-- |
480 |
DAP* |
* Export price from Saudi Arabia
|
Titanium Dioxide (Feb.8) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(10%) |
(8%) |
(1%) |
2575 |
Tio2 (Asia) |
|
(20%) |
(19%) |
(7%) |
2555 |
Tio2 (Europe) |
|
(8%) |
(8%) |
(8%) |
3190 |
Tio2 (America) |
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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 |
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Urea, ammonia. |
SAFCO |
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Polyethylene, polypropylene, ethylene glycol (MEG), methyl tert- butyl ether (MTBE), benzene. |
YANSAB |
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Polyethylene, polypropylene, propylene. (TiO2) |
Tasnee |
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Polyethylene, polypropylene, ethylene glycol (MEG), polycarbonate, and bisphenol A. |
Saudi Kayan |
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Polyethylene, polypropylene, propylene oxide, and refined petroleum products. |
Petro Rabigh |
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Polyethylene, polypropylene, polystyrene. |
Petrochem |
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Polyethylene, polypropylene. |
Sahara Petrochemicals |
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Styrene, benzene, Cyclohexene, propylene. |
Saudi Group |
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Methanol, Butanol, acetic acid, vinyl acetate monomer. |
Sipchem |
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Polypropylene |
Advanced |
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Polypropylene. |
Alujain |
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Formaldehyde - improvers concrete |
CHEMANOL |
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Epoxy resin, hydrochloric acid, liquid caustic soda, soda granules. |
NAMA |
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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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