Prices of MEG in China decreased – Prices MEG China - Arhive
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Prices of MEG in China decreased
MOSCOW ( MRC ) – The price proposals for monoethylene glycol (MEG) in China declined on Thursday, September 20, amid information that MEG deliveries from the ports to Jiangsu do not fall under restrictions, ICIS reports citing sources in the market.
MEG prices for shipments in September and October decreased to USD910 per tonne, CFR main ports of China (CMP), whereas on Wednesday, September 19, prices rose to USD950-955 per tonne, CFR CMP.
Buyers were ready to buy at USD900-905 per tonne, CFR CMP.
The Chinese authorities plan to impose restrictions on the arrival of ships with hazardous chemicals in the Jiangsu area on October 11-28, as the country will hold its 19th congress of the Communist Party in Beijing at that time. The main political gathering in the capital of China is held every five years.
The anxiety of the players regarding the problems with the deliveries of the MEG caused a rise in prices on Wednesday. Prices for MEG began to decline after a major port in Jiangsu said on Thursday that MEG could be excluded from the list of prohibited products.
MEG is the main raw material component for the production of polyethylene terephthalate (PET).
According to the Price Review of ICIS-MRC , the volume of Russian PET imports in August was at a record low. Such volume of supplies usually falls on the winter months of the calendar year. Imports of PET as a whole without regard to Belarus in August amounted to 6.4 thousand tons, for the delivery of PET granules it was 5,3 thousand tons.
mrcplast.ru
Author: Anna Larionova
Prices MEG China Prices MEG China