MEG import prices China crude oil futures - Arhive
MEG import prices in China fell amid falling oil futures MEG import prices China crude oil futures
MOSCOW – US MEG prices in China fell on Wednesday, October 24, amid falling oil futures and uncertain macroeconomic forecasts, ICIS reported, citing market participants.
Thus, the spot prices of imported MEG fluctuated at around USD830-840 per ton, CFR CMP, while price proposals for the end of October and early November were at USD815-830 per ton, CFR CMP.MEG import prices China crude oil futures
On October 23, the spot prices of MEG in China were USD840-852 per ton.
The decline in demand from the polyether market also exerts downward pressure on the MEG market.MEG import prices China crude oil futures
Earlier, it was reported that the Chinese Sinopec on October 24 set October contract prices for monoethylene glycol (MEG) in eastern China by 310 yuan (CNY) or USD44.7 per ton lower compared to the level of the previous month.
Sinopec lowered the October contract price of MEG for the eastern regions of China to CNY7,770 per tonne or USD11,195 per tonne amid weak demand in the spot market.
MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).MEG import prices China crude oil futures
According to the ICIS-MRC price review , the supply of injection-molded PET granules from non -CIS countries to Russia in September amounted to 10.1 thousand tons against 10.5 thousand tons a month earlier and 3 thousand tons in September last year. Imports from South Korea last month amounted to 0.5 thousand tons.
In the first nine months of 2018, imports of molded PET in the Russian Federation increased by 29% to 97.2 thousand tons against 75.4 thousand tons for the same period last year. MEG import prices China crude oil futures
The share of South Korean imports from January to September was 10% (9.5 thousand tons), as was the share for the same period last year (7.6 thousand tons).
mrcplast.ru
Author: Anna Larionova