MEGlobal December price MEG - Arhive
MEGlobal lowered the December contract price of MEG in Asia by USD150 per ton MEGlobal December price MEG
MOSCOW – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the December MEG contract price for Asia at USD950 per tonne, which is USD150 per tonne lower than in November, an ICIS source told the company. MEGlobal December price MEG
The price was named on the terms of delivery CFR Asia.
Low sales in the downstream polyester market and pessimism about the uncertainty in the development of China’s economy have recently put downward pressure on MEG prices, which has led to an increase in activity in the MEG futures market in China.
It was noted earlier that MEGlobal reduced the November contract price of MEG for Asia compared to the level of October by USD20 per ton – to USD1,100 per ton, CFR Asia.
And in October, MEGlobal raised the contract price of MEG for the supply of material to the Asian market by USD20 per ton – to USD1 120 per ton, CFR Asia, from the level of USD1 100 per ton, CFR Asia, in September. MEGlobal December price MEG
MEG, along with terephthalic acid (TFA), is one of the main raw materials for the production of polyethylene terephthalate (PET). MEGlobal December price MEG
According to the ICIS-MRC Price Review , the cost of Russian PET in November for spot and contract buyers will be in the range of 110,000-115,000 rubles. per ton, CPT Moscow, including VAT.
November is traditionally the market for PET buyers when the supply of material exceeds the demand for it. MEGlobal December price MEG
Last week, the ruble appreciated against the dollar. This trend may mitigate the downward pressure on the prices of Russian material in December, which has a continuing decline in Asia.
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 tons of DG per year worldwide.
DG is used as a raw material for the production of polyester fibers (clothing and other textiles), polyethylene terephthalate (PET), antifreeze and other industrial products. MEGlobal is a 100% subsidiary of Equate Petrochemical Company.
In December 2015, Dow Chemical closed the sale of its stake in MEGlobal to Equate Petrochemical Company as part of a strategy to optimize its equity participation in Kuwaiti joint ventures. MEGlobal December price MEG
mrcplast.ru
Author: Margarita Volkova