MEG Monoethylene glycol prices Asia oil prices
MEG prices in Asia fell amid falling oil prices MEG Monoethylene glycol prices Asia oil prices
MOSCOW – Mono-ethylene glycol (MEG) price offers in Asia continued to show a downward trend on Monday following the recent drop in crude oil prices, which resulted in weak trading activity in the market, ICIS reported. MEG Monoethylene glycol prices Asia oil prices
In the second half of yesterday, November 26, negotiations on the sale of MEG in the region were in the range of USD670-675 per ton, CFR CMP (main port of China), with some lower price values of approximately USD660 per ton, CFR CMP.
According to ICIS, on November 23 MEG prices were at the level of USD678-685 per tonne, CFR CMP.MEG Monoethylene glycol prices Asia oil prices
Downward quotations of crude oil also influenced the drop in prices of polyester on the downstream market, which subsequently led to a decrease in MEG procurement.
MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).
According to the ICIS-MRC Price Review , the spot prices for PET in the Russian market are gradually going down due to the expected decline in contract prices for the next month and low demand for material.
The fundamental factors that influence the global PET market remain unchanged so far – the prices of petroleum and PET raw materials continue to decline. The cost of PET in China is constantly falling.
Author: Margarita Volkova