Prices MEG in the US may fall in April – It is expected that prices of monoethylene glycol (MEG) in the US will decline in April due to a weakening of demand between peak seasons – Prices MEG USA April
Prices MEG USA April Prices MEG USA April Prices MEG USA April Prices MEG USA April Prices MEG USA April Prices MEG USA April
Prices MEG in the USA may fall in April
MOSCOW – It is expected that prices of monoethylene glycol (MEG) in the US will decline in April due to a weakening of demand between peak seasons, ICIS reports citing market participants.
So, the season of consumption of antifreeze, the raw material for the production of which serves as MEG, has come to an end, while the season for polyethylene terephthalate (PET) is just beginning.
According to sources, one of the manufacturers is still closed for repairs, in addition, in late April, it is expected to close the repair for another of the manufacturers. Nevertheless, this is unlikely to affect the market strongly, as the level of material stocks on the coast of the Gulf of Mexico remains sufficient.
It is expected that producers will increase exports to China due to weak domestic consumption.
Two manufacturers in the US announced a decline in April prices by 3-5 cents per pound (USD66-110 per tonne).
March contract prices MEG in the US were at the level of 44-55 cents per pound (USD968-1100 per tonne), FOB.
MEG along with terephthalic acid (TPA) is one of the main components for the production of polyethylene terephthalate (PET).
According to the ScanPlast of the company MRC, in January 2018 Russian plants produced 43.4 thousand tons of PET granulate. Compared with the same period last year, the operating time was reduced by 7 thousand tons. (13 %). The decrease in production volumes is associated with a decrease in capacity utilization at the Alco-Nafta plant and the Senezh stop.
The main producers of MEG in the United States are Eastman Chemical, Huntsman, Indorama Ventures, LyondellBasell, Nan Ya Plastics, Shell Chemical and MEGlobal.
Author: Anna Larionova
Tags: MEG , PET granulate , Russia , USA .
Category: General news
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