January Monoethylene Glycol Contract Price Europe
January Monoethylene Glycol Contract
January MEG contract price in Europe agreed at EUR20 per tonne above December
MOSCOW – The contract price of monoethylene glycol (MEG) for January in Europe was finally agreed on February 13 at EUR625 per tonne, which is EUR20 per tonne higher than the previous month, ICIS reported citing confirmation from the second buyer and second seller .
The MEG contract price for January shipments was approved on FD NWE terms of delivery (with delivery to Northwest Europe).
The initial January contract price was agreed back in December last year, but for a long time could not find further confirmation from the European market, as negotiations once again dragged on for a very long time. January Monoethylene Glycol Contract
Now the necessary configuration has been reached for approving the contract price: confirmation has been received from two manufacturers / sellers and two consumers / buyers.
It was previously noted that negotiations on MEG contract prices have been held all the time with a delay since June last year, which creates administrative difficulties for a wider market.
MEG along with terephthalic acid (TFA) is one of the main components for the production of polyethylene terephthalate (PET).
According to the ICIS-MRC Price Review , in the Russian PET market, the supply of material still exceeds the demand for it. A possible increase in granulate processing volumes before the preform season is expected in March. January Monoethylene Glycol Contract
Export prices in China after the end of the holiday period in the country fell and fixed at a lower level against the background of limited shipments and partial quarantine in ports.
It is expected that the upward trend of the dollar against the ruble, on the one hand, and a decrease in Chinese quotes, on the other, will lead to a slight change in the contract prices of PET granulate in the Russian market next month. January Monoethylene Glycol Contract