Sabic increased December contract price of MEG for Asia by USD30 per tonne – Sabic, the largest Saudi petrochemical company, raised the contract price of monoethylene glycol (MEG) – Sabic December contract price MEG Asia - Arhive
Sabic December contract price MEG Asia Sabic December contract price MEG Asia Sabic December contract price MEG Asia Sabic December contract price MEG Asia Sabic December contract price MEG Asia Sabic December contract price MEG Asia Sabic December contract price MEG Asia Sabic December contract price MEG Asia Sabic December contract price MEG Asia
Sabic increased December contract price of MEG for Asia by USD30 per tonne
MOSCOW – Sabic, the largest Saudi petrochemical company, raised the contract price of monoethylene glycol (MEG) to supply material to the Asian market in December at USD30 per tonne compared to the November price level, ICIS told a source in the company.
Thus, the company’s MEG prices for December supplies to Asia will be at the level of USD1,050 per tonne, CFR Asia.
Earlier it was noted that for November deliveries of MEG to Asia, Sabic reduced the contract price for the material by USD70 per ton in relation to October, setting it at USD1,020 per tonne, CFR Asia.
And before that, Sabic increased the contract price of MEG for supplies in October in the Asian region by USD80 per tonne compared to September prices – to USD1,090 per ton.
MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).
According to the Price Review of ICIS-MRC , the price levels in the Russian PET market, in general, remain stable. Prices of Chinese PET in Russia, taking into account the delivery to the port of Vostochny, amounted to USD1,045-1,055 per tonne, excluding VAT.
Sabic is a diversified company producing chemical products, industrial polymers, fertilizers and metals. It is the largest state company in Saudi Arabia. Sabic is currently the world’s second largest producer of ethylene glycol, the third largest producer of polyethylene, the fourth largest producer of polypropylene. Sabic reduced its net profit last year by 7% to SR23.43 billion (Saudi reais), which is equivalent to USD6.24 billion, as the average price of sold products and the increased sales volumes decrease.
mrcplast.ru
Author: Margarita Volkova
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