March contract price of MEG in Europe is reduced by EUR12 per tonne – The contract price of monoethylene glycol (MEG) for March in Europe was finally agreed at the level of EUR985 per ton, which is EUR12 per ton lower than the level of the previous month – MEG Europe March contract price - Arhive

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March contract price of MEG in Europe is reduced by EUR12 per tonne

MEG Europe March contract price MOSCOW- The contract price of monoethylene glycol (MEG) for March in Europe was finally agreed at the level of EUR985 per ton, which is EUR12 per ton lower than the level of the previous month, ICIS reported on Wednesday with a confirmation from the second buyer and the second the seller.

The contract price of MEG for March shipment was approved on the terms of delivery of FD NWE (with delivery to North-Western Europe).

The original contract price of MEG in Europe for March delivery was agreed at the same level, on March 5, confirmed one buyer and one seller. It was agreed after the contract price of ethylene in March was approved at the level of EUR1,057 per tonne, which is EUR20 per tonne lower than the level of February.

The contract price is considered fully agreed upon after confirmation from a minimum of two producers (suppliers) and from two consumers.

Market participants expected a decline in the March contract price of MEG, given the recent drop in the contract price of raw materials – ethylene – and a decrease in spot prices in Europe.

Earlier it was noted that the contract price of 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 , rising PET prices in the Asian market support the current level of material costs of Russian producers. Some manufacturers believe that the high prices of granules will last until the end of spring. Despite the general increase in prices for PET preforms in March, some large processors continue to sell products at prices below the current spot value of raw materials. The processors, in general, have already accumulated large stocks of preforms before the start of the season.

mrcplast.ru

Author:                Margarita Volkova

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