Monoethylene glycol MEG prices Europe - Arhive
MEG spot prices in Europe continue to fall amid falling commodity prices Monoethylene glycol MEG prices Europe
MOSCOW – The spot prices for monoethylene glycol (MEG) in the European market continue to go down this week after a significant drop in the December contract price of ethylene, ICIS said . Monoethylene glycol MEG prices Europe
The negotiations on the December contract price of MEG have not yet gained full force, but prices are expected to decline on the contract market.
The spot quotes of MEG have not yet reached the bottom and continue to decline significantly against the background of the ongoing downtrend in the Asian market of MEG.
Participants in the European MEG market do not lead to a drop in prices, as market sentiment remains downward.Monoethylene glycol MEG prices Europe
Roaring players keep stocks low, so the European market remains a buyer’s market, since the MEG offer is good.Monoethylene glycol MEG prices Europe
Despite the desire to preserve a small amount of material stocks, there is a concern in the downstream polyethylene terephthalate (PET) market about the consumption of MEG after the announcement of force majeure at the PET plant Indorama Ventures in the Netherlands this week.
This circumstance is likely to increase the MEG offer in December and may put additional pressure on the spot market. Monoethylene glycol MEG prices Europe
The spot prices of MEG in Europe this week decreased in the lower price range of EUR35 per tonne, and in the upper level it was EUR25 per tonne compared to last week, which led to a decrease in the price range to EUR685-710 per tonne, CIF NWE (North -Western Europe).
MEG along with terephthalic acid (TFA) is one of the main components for the production of polyethylene terephthalate (PET).
According to the ICIS-MRC Price Review , the fall in prices on the world markets for raw materials and PET granules continues to push prices down on the Russian market.
The cost of December PET volumes from Russian producers for contract and spot buyers is aggressively decreasing. Monoethylene glycol MEG prices Europe
mrcplast.ru
Author: Margarita Volkova