Sinopec increased July price of MEG on USD47 – Sinopec July price MEG
Sinopec July price MEG Sinopec July price MEG Sinopec July price MEG Sinopec July price MEG Sinopec July price MEG
Sinopec increased July price of MEG on USD47
MOSCOW ( Market Report ) – China China Petroleum & Chemical Corp. (Sinopec), the largest oil refining company in Asia, raised the price of monoethylene glycol (MEG) for deliveries in July to CNY (300) (USD47) per tonne, ICIS reports, citing sources in the company.
Thus, the July price of MEG was agreed at the level of CNY7,100 per ton (USD1,115 per tonne), while in June 2017 it was at CNY6,800 per tonne. (CNY1 = USD0,157)
MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).
According to the Price Review of ICIS-MRC , by the end of May, imports of PET in the domestic market of Russia slightly decreased and amounted to 11.5 thousand tons against 12 thousand tons in April. It should be noted the increase in imports of Chinese PET brands produced by Jiangsu Sanfangxiang in May. By the end of May, the import of this producer to Russia amounted to 3.5 thousand tons against 2 thousand tons in April.
Sinopec Corp. Is one of the world’s largest integrated energy and chemical companies. Business Sinopec Corp. Includes oil and gas exploration, production and transportation of oil and gas, refining, petrochemical production, production of mineral fertilizers and other chemical products. By the volume of oil processing capacities of Sinopec Corp. Occupies the second place in the world, the volume of ethylene capacity – the fourth.
Author: Anna Larionova