Monoethylene Glycol MEG Prices Asia Crude Oil

Monoethylene Glycol MEG Prices

MEG prices fall in Asia by 6.08%

Monoethylene Glycol MEG Prices

MOSCOW  – Monoethylene glycol (MEG) prices in Asia fell 6.08% on Thursday amid a sharp drop in oil prices and futures in China, ICIS reports.

MEG spot prices fell to USD414-420 per tonne, CFR CMP, which is USD24-30 per tonne lower than the previous day. Monoethylene Glycol MEG Prices

According to market sources, several shipping transactions in the second half of March-April were concluded at a price of USD410-420 per tonne, CFR CMP.

Chinese MEG futures declined, which had downward pressure on the spot market.

MEG, along with terephthalic acid (TFA), is one of the main raw materials for the production of polyethylene terephthalate (PET).  MEG Prices

According to the ICIS-MRC Price Review , last week the influence of two opposing trends on the Russian market sharply increased. Monoethylene Glycol Prices

On the one hand, a sharp increase in the dollar against the ruble puts upward pressure on the value of Russian PET.

On the other hand, a decline in Asian quotes has a downward effect; prices dipped last week.

mrcplast.ru

Author: Anna Larionova

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