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Argaam Petrochemical Index falls 1.6 pts on slow trading
Argaam Petrochemical Index, which measures the average change in prices for a basket of petrochemicals produced in the Gulf, dropped 1.6 points to 174 points last week amid slow trading ahead of the week-long Chinese New Year holidays.
|
Argaam Petrochemical Index |
|
|
Agraam Index (February 7) |
174.0 |
|
Weekly change |
( 0.9% ) |
|
6 months change |
( 19.1% ) |
|
1-year change |
( 14.3% ) |
Naphtha feedstock declined $20 to $325 a ton last week.
The prices of Saudi liquid petroleum gas (LPG) such as propane and butane are set at 20 percent discount compared with the prices of exports to Japan from the Port of Ras Tanura.
|
Feedstock Prices (February 7) |
||||
|
Product |
Price |
Weekly change |
6 months change |
1-year change |
|
Naphtha* |
325 |
( 6% ) |
( 29% ) |
( 36% ) |
|
Propane** |
285 |
-- |
( 22% ) |
( 37% ) |
|
Butane** |
315 |
-- |
( 21% ) |
( 34% ) |
*CFR Japan
**Aramco ACP
Urea stood at $190 a ton, a 12-year low. Ammonia fell below $300 a ton for the first time in four years, according to data compiled by Argaam.
DAP (diammonium phosphate) dropped to a six-year low, reaching $370 a ton on high supply and weak demand. The price volatility has prompted Mosaic Co, one of the world’s largest phosphates producer, to slash production of phosphates by 400,000 tons in the first quarter of 2016 to stem the global glut.
|
Basic Petrochemicals (February 7) – Asian markets |
||||
|
Product |
Price |
Weekly change |
6 months change |
1-year change |
|
Ethylene* |
890 |
( 4% ) |
( 14% ) |
+ 3% |
|
Propylene* |
580 |
+ 2% |
( 31% ) |
( 28% ) |
|
Benzene* |
550 |
-- |
( 24% ) |
( 16% ) |
|
Styrene* |
940 |
+ 1% |
( 15% ) |
-- |
|
Methanol (Methanex)** |
255 |
-- |
( 29% ) |
( 19% ) |
|
Methanol (China)*** |
205 |
-- |
( 25% ) |
( 15% ) |
|
MTBE**** |
485 |
( 10% ) |
( 32% ) |
( 25% ) |
*FOB-East Asia (Japan, Taiwan, and Korea)
**ACP "Methanex"
***Methanol prices in China
****Spot – Singapore
|
Polymers Prices (February 7) – Asian markets |
||||
|
Product |
Price |
Weekly change |
6 months change |
1-year change |
|
Polyethylene* |
1,070 |
-- |
( 12% ) |
( 8% ) |
|
Polypropylene |
830 |
( 1% ) |
( 24% ) |
( 19% ) |
|
Poly Styrene |
1,070 |
-- |
( 15% ) |
( 5% ) |
|
PVC |
725 |
-- |
( 15% ) |
( 11% ) |
|
PCB |
2,175 |
-- |
( 12% ) |
( 6% ) |
*High-density polyethylene
|
Intermediates (February 7) – Asian markets |
||||
|
Product |
Price |
Weekly change |
6 months change |
1-year change |
|
Spot MEG - China |
610 |
+ 2% |
( 21% ) |
( 23% ) |
|
MEG (SABIC) |
710 |
-- |
( 30% ) |
( 19% ) |
|
PTA |
560 |
+ 3% |
( 10% ) |
( 5% ) |
|
Fertilizers (February 7) – Gulf Arab Countries |
||||
|
Product |
Price |
Weekly change |
6 months change |
1-year change |
|
Urea |
190 |
-- |
( 32% ) |
( 42% ) |
|
Ammonia |
295 |
( 3% ) |
( 25% ) |
( 35% ) |
|
DAP* |
370 |
( 5% ) |
( 23% ) |
( 23% ) |
* Export price from Saudi Arabia
|
Titanium Dioxide (February 7) |
||||
|
Product |
Price |
Weekly change |
6 months change |
1-year change |
|
Tio2 (Asia) |
2,000 |
-- |
( 15% ) |
( 22% ) |
|
Tio2 (Europe) |
2,175 |
-- |
( 5% ) |
( 15% ) |
|
Tio2 (America) |
2,750 |
-- |
( 11% ) |
( 14% ) |
|
Others (February 7) |
||||
|
Product |
Price |
Weekly change |
6 months change |
1-year change |
|
BPA (Asia) |
910 |
-- |
( 22% ) |
( 32% ) |
|
VAM (Asia) |
885 |
( 3% ) |
( 6% ) |
( 8% ) |
|
Acetic Acid (Asia) |
310 |
( 9% ) |
( 30% ) |
( 29% ) |
|
Acrylic Acid Glacial-China |
725 |
( 26% ) |
( 37% ) |
( 41% ) |
|
Butyl Acrylate-China |
850 |
( 15% ) |
( 29% ) |
( 24% ) |
|
Average Prices (February 7) |
|||
|
Product |
Q1 2016 |
Q4 2015 |
Q3 2015 |
|
Naphtha |
353 |
447 |
463 |
|
Ethylene |
987 |
993 |
967 |
|
Propylene |
567 |
565 |
746 |
|
Benzene |
558 |
605 |
665 |
|
Styrene |
909 |
902 |
1,048 |
|
Methanol (Methanex) |
268 |
305 |
348 |
|
Methanol (China) |
206 |
230 |
260 |
|
MTBE |
538 |
589 |
700 |
|
Polyethylene |
1,071 |
1,117 |
1,209 |
|
Polypropylene |
831 |
917 |
1,068 |
|
Poly Styrene |
1,068 |
1,058 |
1,231 |
|
PVC |
723 |
768 |
828 |
|
PCB |
2,169 |
2,145 |
2,375 |
|
Spot MEG - China |
588 |
610 |
761 |
|
MEG (SABIC) |
717 |
803 |
982 |
|
PTA |
554 |
595 |
608 |
|
Urea |
208 |
251 |
276 |
|
Ammonia |
315 |
422 |
402 |
|
DAP |
393 |
441 |
480 |
|
Tio2 (Asia) |
2,008 |
2,142 |
2,361 |
|
Tio2 (Europe) |
2,183 |
2,268 |
2,375 |
|
Tio2 (America) |
2,750 |
2,919 |
3,056 |
|
BPA (Asia) |
910 |
918 |
1,096 |
|
VAM (Asia) |
900 |
833 |
910 |
|
AA (Asia) |
335 |
372 |
431 |
|
Acrylic Acid Glacial-China |
942 |
1,060 |
1,140 |
|
Butyl Acrylate-China |
975 |
1,073 |
1,179 |
About Argaam Petrochemical Index:
Argaam Petrochemical Index exclusively provides weekly capacity-weighted measures for the average variations in global prices of several petrochemical products manufactured in the Gulf Arab countries.
Internally consumed products, which are used as feedstock in the production of 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 are the most weighted on the index.
Naphtha prices, the main feedstock benchmark, correlate negatively with the index. Weights of products on the index are reviewed periodically.
As of January 1, 2002 the index started at 100 points.
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