MEG Polyethylene Terephthalate MEGlobal

MEG Polyethylene Terephthalate MEGlobal

MEG Polyethylene Terephthalate MEGlobal

Export Bottle PET Prices in Asia Remain Stable

MOSCOW – Export prices for bottled PET in Asia last week generally remained at the previous week amid minimal fluctuations in the cost of raw materials, the ICIS-MRC Price Review says.

Overall, PET prices were in the range of USD840-870 per tonne, FOB China.

Most spot deals were for deliveries in October, but there were also September and November. MEG Polyethylene Terephthalate MEGlobal

According to market players, the supply of bottle brands of PET granulate in the spot market was sufficient, and consumer interest was consistently high.

The increase in spot purchases may be due to an increase in the contract price of paraxylene in Asia and a slowdown in the decline in PET prices. However, some manufacturers still report limited spot deals and refuse to cut prices due to lower production margins.

The contract prices of Russian plants in the current month fell to 78,000-81,000 rubles. per tonne, CPT Moscow, including VAT, the lowest level since the beginning of 2018. At the same time last year, formula prices were an average of 30 thousand rubles. per tonne higher. MEG Polyethylene Terephthalate MEGlobal

mrcplast.ru

Author: Anna Larionova

MEG spot prices in Asia up 7.2% amid rising oil prices

MOSCOW – Spot prices of monoethylene glycol (MEG) in Asia rose by 7.2% on September 16 to USD 596-611 per tonne, CFR CMP amid sharply rising oil prices and limited supplies, ICIS reports citing market participants .MEG Polyethylene Terephthalate MEGlobal

Whereas the spot prices of MEG on September 12 were at the level of USD560-566 per tonne, after which the Chinese market closed for a three-day Mid-Autumn Festival, which is widely celebrated in China and Vietnam.

The increase in crude oil prices caused by drone attacks on Saudi Aramco factories put upward pressure on the MEG market and raised concerns about a possible reduction in MEG supplies. Sellers withdrew the bids and took a wait and see attitude, which led to limited discussions of deals throughout the day.

According to ICIS, Saudi Arabia has a total production capacity of MEG capacity of 6.3 million tons per year, which is about 70% of the total MEG capacity in the Middle East.

Earlier it was reported that the total reserves of monoethylene glycol (MEG) in eastern China decreased last week by 9.3% compared with a week ago amid a decrease in the number of arriving consignments of imported material to the country’s ports and an increase in its level of discharge. Thus, this indicator amounted to approximately 782 thousand tons this week against 862 thousand tons a week earlier.

MEG along with terephthalic acid (TFA) is one of the main components for the production of polyethylene terephthalate (PET). MEG Polyethylene Terephthalate MEGlobal

According to ScanPlast of Market Report, in Russia the total estimated consumption of PET in July of this year decreased by 4% compared to the figure a year earlier. In total, according to the results of the seven months of 2019, 428.79 thousand tons of PET were processed in the Russian Federation.

mrcplast.ru

Author: Anna Larionova

MEGlobal in the first half of October will begin commercial production at the new MEG factory in Freeport

 

MOSCOW -MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), plans in the second week of October to launch commercial production at the new world-wide plant for the production of monoethylene glycol (MEG) in Freeport (Freeport, Texas, USA), reported the publication Chemweek , citing a statement by a company representative. MEG Polyethylene Terephthalate MEGlobal

This enterprise, with a capacity of 700 thousand tons of MEG per year and located at the Dow site in Oyster Creek in Freeport, was commissioned on September 10 this year, and is currently undergoing final debugging work. production process.

The project cost is estimated at USD2 billion.

It was previously noted that in March 2018, the Kuwaiti Equate Petrochemical Co., one of the world’s largest companies producing polymers and other petrochemical products, announced the start of the construction of a new MEG plant in Freeport, which will be managed by its 100% subsidiary, MEGlobal . MEG Polyethylene Terephthalate MEGlobal

The new plant will use Dow Chemical technology, and a contract for the detailed design of the plant, the purchase of basic equipment and construction management was signed with the American company Jacobs in November 2016. In addition, at the end of March last year, American Flour received a contract for the construction of a new MEG plant in Freeport.

This location of the new MEG plant is beneficial for the company, as the company will receive ethylene from the new Dow cracking unit under a long-term agreement. Thus, MEGlobal will take advantage of the cheap shale gas, which will be supplied to the new Dow cracking unit as a raw material.

It was previously noted that with the launch of a new plant in the USA, the total MEGlobal MEG production capacity will increase to 2 million tons per year.

MEG along with terephthalic acid (TFA) is one of the main components for the production of polyethylene terephthalate (PET). MEG Polyethylene Terephthalate MEGlobal

According to ScanPlast of Market Report, in Russia the total estimated consumption of PET in July of this year decreased by 4% compared to the figure a year earlier. In total, according to the results of the seven months of 2019, 428.79 thousand tons of PET were processed in the Russian Federation.

Headquartered in Dubai (UAE), MEGlobal is the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG). Established in July 2004, MEGlobal currently sells more than 2.5 million tons of DG per year worldwide.

DG is used as a raw material for the production of polyester fibers (clothing and other textile products), polyethylene terephthalate (PET), antifreeze and other industrial products. MEGlobal is a 100% subsidiary of Equate Petrochemical Company.

In December 2015, Dow Chemical closed a deal to sell its stake in MEGlobal to Equate Petrochemical Company as part of a strategy to optimize its equity stake in Kuwaiti joint ventures. MEG Polyethylene Terephthalate MEGlobal

mrcplast.ru

Author: Margarita Volkova

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