MEGlobal October MEG Asia USD20 tonne - Arhive
MEGlobal increased the October contract price of MEG in Asia by USD20 per tonne MEGlobal October MEG Asia USD20 tonne
MOSCOW – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the October contract price for MEG for Asia at USD1,120 per tonne, which is USD20 per ton higher than September, ICIS reported in company.
The price was named on CFR Asia.MEGlobal October MEG Asia USD20 tonne
MEG prices in China began to grow at the end of August amid rising quotations in the downstream polyester market ahead of the traditional peak demand period in early September.
However, MEG prices were under a downward pressure at the end of last week, after market players completed the replenishment process for the first half of September.
Earlier it was noted that MEGlobal lowered the September contract price of MEG for Asia, compared to the level of August at USD30 per tonne – to USD1,100 per tonne, CFR Asia.
And for the August deliveries MEGlobal raised the contract price of MEG for the supply of material to the Asian market at USD20 per tonne – to USD1,130 per tonne, CFR Asia.
MEG, along with TPA, is one of the main raw materials for the production of polyethylene terephthalate (PET).MEGlobal October MEG Asia USD20 tonne
According to the Price Review of ICIS-MRC , in early September the cost of Russian PET granulate in the spot is at the level of 125 000-145 000 rubles. per ton, CPT Moscow, including VAT.
The lower limit of the cost of PET grew after the producer SIBUR raised prices. It is expected that demand for the material will decrease in the near future.
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 October MEG Asia USD20 tonne
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