AI Summary
The Argaam Petrochemical Index, which measures average price changes for a basket of petrochemicals in the Gulf, maintained its gain for the second consecutive week with an advance of 4.1 points to 208, compared to 203.9 points last week as feedstock prices increased.
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.
|
Argaam Petrochemical Index |
|
|
208.0 |
Argaam Index (March 1) |
|
+2.0% |
Weekly change |
|
(26.5%) |
6 months change |
|
(25.4%) |
1-year change |
Naphtha feedstock remained unchanged at $550 per ton.
|
Prices of Naphtha including shipping costs to Japan (March 1) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(41%) |
(39%) |
-- |
550 |
Naphtha* |
|
(41%) |
(39%) |
-- |
396 |
Propane ** |
** Approximate price in Saudi Arabia (28% discount for Naphtha).
Basic products were pushed higher by buyers who resumed their normal purchasing pace following the Chinese New Year holiday and inventory rebuilding. Prices of polymers were unchanged from last week.
Methanex, the world’s largest methanol producer, raised its March Asian contract price by $5 to $330 per ton.
Urea continued its downtrend to reach $300 per ton, a $15 loss week-on-week. Ammonia added $25 to $450 per ton.
|
Basic Petrochemicals (March 1) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(32%) |
(36%) |
+6% |
960 |
Ethylene* |
|
(34%) |
(31%) |
+7% |
910 |
Propylene* |
|
(46%) |
(46%) |
+5% |
690 |
Benzene* |
|
(33%) |
(31%) |
+7% |
1,040 |
Styrene* |
|
(44%) |
(21%) |
+5% |
330 |
Methanol (Methanex)** |
|
(45%) |
(27%) |
+2% |
260 |
Methanol (China)*** |
|
(34%) |
(28%) |
+5% |
735 |
MTBE**** |
** ACP "Methanex"
*** Methanol prices in China.
**** Spot – Singapore.
|
Polymers Prices (March 1) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(26%) |
(29%) |
-- |
1130 |
Polyethylene* |
|
(29%) |
(30%) |
+1% |
1060 |
Polypropylene |
|
(34%) |
(32%) |
-- |
1150 |
Poly Styrene |
|
(34%) |
(32%) |
----- |
840 |
PVC |
|
(7%) |
(7%) |
----- |
2325 |
PCB |
|
Intermediates (March.1) - Asian markets |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(6%) |
(15%) |
+4% |
835 |
Spot MEG - china |
|
(25%) |
(23%) |
-- |
880 |
MEG (SABIC) |
|
(32%) |
(40%) |
-- |
600 |
PTA |
|
Fertilizers (March.1) - Gulf Arab Countries |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(21%) |
(15%) |
(5%) |
300 |
Urea |
|
(1%) |
(13%) |
+6% |
450 |
Ammonia |
|
+17% |
(2%) |
-- |
480 |
DAP* |
|
Titanium Dioxide (March.1) |
||||
|
1-year change |
6 months change |
Weekly change |
Price |
Product |
|
(9%) |
(8%) |
-- |
2575 |
Tio2 (Asia) |
|
(20%) |
(19%) |
-- |
2555 |
Tio2 (Europe) |
|
(8%) |
(8%) |
-- |
3190 |
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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