Spot prices of MEG in Europe decreased  -Spot prices monoethylene glycol MEG Europe

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Spot prices of MEG in Europe decreased 

Spot prices monoethylene glycol MEG Europe MOSCOW – The spot prices of monoethylene glycol (MEG) in Europe fell last week amid low demand, ICIS reports citing market sources.

A few spot deals were made last week, but in general the market was calm, as suppliers focused more on deliveries to Asia due to more attractive prices.

Spot prices MEG last week fell by EUR25-30 per tonne and in general were in the range EUR825-850 per tonne, CIF NWE.

MEG production operates in Europe in normal mode, the supply of material is sufficient, although the volume of imports is low.

Earlier it was reported that the contract price of monoethylene glycol (MEG) in Europe for February supplies was finally agreed at the level of EUR997 per ton, which is EUR33 per ton higher than the level of January.

MEG is the main raw material component for the production of polyethylene terephthalate (PET).

According to the Price Review of ICIS-MRC , the supply of polyethylene terephthalate (PET) in Europe is limited, especially in the spot market.  Vendors in the European PET market contracted almost all volumes of material.  Spot volumes are extremely small.  Buyers, in general, rely on contract volumes.  Usually, players of the market have the opportunity to choose the material provided that cheaper imports are available.  However, at the moment, imports are more expensive.

mrcplast.ru

Author:   Anna Larionova

Related Topics

Prices MEG in Asia are growing amid the replenishment of stocks of material by market players – In the first half of this day, February 2, prices for import volumes of monoethylene glycol (MEG) in China continued to grow – Prices MEG monoethylene glycol Asia

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