Indorama February Monoethylene Glycol - Arhive

Indorama February Monoethylene Glycol

Indorama raises February MEG prices in the US by USD44 per ton

Indorama February Monoethylene Glycol

MOSCOW – Indorama Ventures Company Ltd (IVL), the world leader in the production of polyethylene terephthalate (PET), raises the prices of monoethylene glycol (MEG) for supplies to the United States in February by 2 cents per pound (USD44 per ton), according to company message.

The company said the reason for the increase was reduced supply and increased demand, as well as rising prices in Asia. Prices in Asia, which tend to affect the cost of MEGs in the United States, are rising amid declining stocks at ports.

Earlier it was reported that Shell Chemicals announced an increase in the contract price of monoethylene glycol (MEG) for deliveries in February to the US market by 2 cents per pound or USD44 per ton. The price increase will take effect on February 1 and is consistent with the terms of current contracts. Indorama February Monoethylene Glycol

The main manufacturers of MEGs in the USA are Eastman Chemical, Huntsman, Indorama Ventures, LyondellBasell, Nan Ya Plastics, Shell Chemical and MEGlobal.

MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).

According to the ICIS-MRC Price Review , at the end of December last year, activity in the external PET markets was very low amid holidays in Europe. Prices in the Chinese market remained at the level of the second half of the third week of December. Activity in the Russian spot PET market at the end of 2019 increased sharply. Free volumes for spot buyers in a significant amount remained only at the Kaliningrad plant Ecopet.

Indorama Ventures PLS is one of the world’s leading manufacturers of PET, TPA, MEG (in the USA), as well as polyester filaments and fibers. Indorama February Monoethylene Glycol

mrcplast.ru

Author:

Anna Larionova

Indorama February Monoethylene Glycol