MEGlobal raises the August MEG prices in Asia at USD70 per tonne – MEGlobal August MEG prices Asia
MEGlobal August MEG prices Asia MEGlobal August MEG prices Asia MEGlobal August MEG prices Asia
MEGlobal raises the August MEG prices in Asia at USD70 per tonne
MOSCOW ( MRC ) – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), announced an increase in the August contract price for MEG for Asia at USD70 per tonne compared to July – to USD980 per tonne, ICIS With reference to the document received from the company.
The price was named on CFR Asia.
The company’s statement said: “The contract price of MEGlobal for the supply of MEG to the Asian region in August will be USD980 per tonne, CFR main Asian ports.”
Earlier it was noted that in mid-June MEGlobal announced an increase in the contract price of MEG for the supply of material to the Asian market in July 2017, an increase of USD60 per ton compared to the level of June. Thus, the company announced the contracted July price of MEG at USD910 per tonne, CFR Asia.
MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).
According to the Price Review of ICIS-MRC , PET prices in the Russian market last week remained stable. The range of spot quotes of the granulate was announced in the corridor 78 000-82 000 rubles. Per ton, FCA company warehouse, excluding VAT. Purchasing activity in the domestic market is low. According to producers, demand for spot in the current summer is much lower than the same period a year earlier.
MEGlobal, headquartered in Dubai (UAE), is the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG). Established in July 2004, MEGlobal currently sells more than 2.5 million tonnes of DG per year worldwide. DG is used as raw material for the production of polyester fibers (clothes and other textiles), polyethylene terephthalate (PET), antifreezes and other industrial products. MEGlobal is a 100% subsidiary of the Equate Petrochemical Company. In December 2015, Dow Chemical closed the deal to sell its stake in MEGlobal to Equate Petrochemical Company as part of its strategy to optimize its equity participation in the Kuwaiti joint venture.
Author: Margarita Volkova