MEGlobal Monoethylene Glycol MEG contract price

MEGlobal Monoethylene Glycol MEG

MEGlobal lowers May MEG contract price in Asia by USD80 per ton

MEGlobal Monoethylene Glycol MEG

MOSCOW – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), has nominated the May MEG contract price for Asia at USD560 per tonne, which is USD80 per tonne lower than in April, the company said. .

The price was quoted on CFR Asia terms. The company lowered MEG prices amid falling spot prices in the market.

Spot prices in Asia fell below USD400 per tonne on April 14, which is 35% lower than the same period in the breach of the year.

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

According to ScanPlast of Market Report, in February of this year, the estimated PET consumption in Russia fell by 3% compared to the same period a year earlier and amounted to 53.89 thousand tons. According to the results of January – February 2020, 100.83 thousand tons of granulate was processed in Russia.MEGlobal Monoethylene Glycol MEG

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.

MEGlobal Monoethylene Glycol MEG

Author: Anna Larionova

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