MEGlobal November contract price MEG Asia - Arhive
MEGlobal lowered the November contract price of MEG in Asia by USD20 per ton MEGlobal November contract price MEG Asia
MOSCOW – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the November MEG contract price for Asia at USD1,100 per tonne, which is USD20 per tonne lower than in October, an ICIS source said in company.
The price was named on the terms of delivery CFR Asia.MEGlobal November contract price MEG Asia
MEG prices were under downward pressure from the downstream market for polyester, as factories in this market reduced output in October after sales fell.
It was noted earlier that MEGlobal raised the October contract price of MEG for Asia compared to September level by USD20 per ton – to USD1 120 per ton, CFR Asia.
And for September deliveries, MEGlobal lowered the contract price of MEG to supply material to the Asian market by USD30 per ton – to USD1,100 per ton, CFR Asia, from a level of USD1,130 per ton, CFR Asia, in August.MEGlobal November contract price MEG Asia
MEG, along with terephthalic acid (TFA), is one of the main raw materials for the production of polyethylene terephthalate (PET).MEGlobal November contract price MEG Asia
According to the ICIS-MRC Price Review , demand for the Russian PET market in October has traditionally continued to decline. MEGlobal November contract price MEG Asia
Despite this, there is still a shortage of spot volumes at the producers of SIBUR-PET, Polief and Senezh due to the sale of the main volumes of granulate to contract customers.
The indicative spot price from the manufacturer SIBUR at the SIBUR-PETF and Polief plants was still at the level of 125 thousand rubles last week. per tonne, FCA plant, VAT included. Spot volumes are not freely available.MEGlobal November contract price MEG 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.
mrcplast.ru
Author: Margarita Volkova