Monoethylene Glycol Europe Prices

Monoethylene Glycol Europe Prices

MEG spot prices in Europe rose

Monoethylene Glycol Europe Prices

MOSCOW- Spot prices for monoethylene glycol (MEG) in Europe rose amid increasing demand and delays in import supplies, ICIS reports .

In early January, European wholesale MEG prices rose due to increased demand, increased spot purchases and limited supplies of imported materials.

2019 was a difficult year due to an increase in global capacities, and a decrease in demand, which led to a record decline in prices. Monoethylene Glycol Europe Prices

The market became much more liquid with the onset of January, when players replenished stocks of material after the Christmas holidays, starting from a year with rising prices.

In the week ending January 10, prices rose EUR35 per tonne at the low and EUR55 per tonne at the high, resulting in a range of EUR465-500 per tonne, CIF NWE.

Stocks tend to be minimized at the end of the year, and in January consumers are focused on restoring stocks.Monoethylene Glycol Europe Prices

Prices in Europe remain low. Spot MEG prices in Asia rose last week due to higher crude oil prices amid tensions between the US and Iran.

On Monday, January 13, 1,000 tons were sold at a price of EUR510 per tonne, CFR NWE for delivery in January.

MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).

According to ScanPlastof Market Report, the estimated PET consumption in Russia grew by 2% in January-November last year compared to the same period a year earlier and amounted to 639.58 thousand tons.

The total estimated material consumption in November last year decreased by 22% compared to the same month of 2018 and amounted to 46.16 thousand tons against 59.34 thousand tons last year.

mrcplast.ru

Author: Anna Larionova

Petrochemicals Bioplastic Crude Oil 16-01-2020

Monoethylene Glycol Europe Prices

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