Asia Monoethylene glycol MEG Market - Arhive

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Purchasing activity in Asia declined in the MEG market  Asia Monoethylene glycol MEG Market

Asia Monoethylene glycol MEG Market

MOSCOW – Consumer activity in Asia on the MEG market declined on the eve of Lunar New Year celebrations, which will begin in the first week of February, according to ICIS .

The limited MEG consumer offers in the region were at around USD622-625 per ton, CFR Chinese main ports (CMP) compared to the sellers USD625-630 per ton, CFR CMP.

On January 11, the MEG price in Asia was USD622-626 per ton, CFR CMP.

The offers of buyers were insufficient, as buyers were in no hurry to buy on the eve of a long vacation. Asia Monoethylene glycol MEG Market

Offers for the second half of January were also rare, given that most sellers have already delivered materials for the first half of January due to the upcoming holiday.

Discussions about further delivery times, such as February and March, were hampered by uncertainties regarding the price of crude oil and China’s short-term economic indicators.

MEG along with terephthalic acid (TPA) is one of the main components for the production of polyethylene terephthalate (PET).

According to Scan Report Company Market Report, in January-November 2018, the estimated consumption of PET in Russia increased by 3% over the same period a year earlier and amounted to 628.66 thousand tons. Compared with November 2017, the total estimated material consumption in the Russian Federation increased by 38% and amounted to 56.74 thousand tons against 41.02 thousand tons last year.

mrcplast.ru

Author:                Anna Larionova