MEGlobal lowered the April contract price of MEG in Asia by USD80 per tonne – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the April contract price for MEG for Asia at USD1,100 per tonne – MEGlobal April contract price MEG Asia - Arhive
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MEGlobal lowered the April contract price of MEG in Asia by USD80 per tonne
MOSCOW – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the April contract price for MEG for Asia at USD1,100 per tonne, which is USD80 per ton lower than March, ICIS reference to the document received from the company.
The price was named on CFR Asia.
According to the document, the level of the April contract price of the MEG reflects the current situation with demand and supply in the Asian market.
In addition, according to market players, the recent decline in spot quotations of MEG against the backdrop of an increased level of stock in the main ports of China also affected the reduction of the contract price of MEG.
Earlier it was noted that MEGlobal left the March contract price of MEG for Asia at the level of February – USD1,180 per ton.
And for February deliveries MEGlobal raised the contract price of MEG for the supply of material to the Asian market at USD100 per ton compared to January level – to USD1,080 per ton.
MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).
According to the Price Review of ICIS-MRC , last week prices of Russian producers were at the level of early March. The beginning of the decline in prices of PET and raw materials in the Chinese market may affect the Russian market in the second quarter. One of the major processors called the price of 92 thousand rubles. per tonne, CPT Moscow, including VAT, as the lowest level on the spot, which could be negotiated last week.
MEGlobal, headquartered in Dubai (UAE), 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 tonnes of DG per year worldwide. DG is used as raw material for the production of polyester fibers (clothes and other textile products), polyethylene terephthalate (PET), antifreezes and other industrial products. MEGlobal is a 100% subsidiary of Equate Petrochemical Company. In December 2015, Dow Chemical closed the deal to sell its stake in MEGlobal to Equate Petrochemical Company as part of its strategy to optimize its equity participation in the Kuwaiti joint venture.
mrcplast.ru
Author: Margarita Volkova
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