November price MEG Europe - Arhive

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November price of MEG in Europe agreed on EUR74 per tonne lower than October  November price MEG Europe

November price MEG Europe

MOSCOW – The contract price of monoethylene glycol (MEG) for November in Europe was finally agreed at EUR925 per tonne, which is EUR74 per tonne lower than the previous month, ICIS reported on Wednesday referring to confirmation from the second buyer and the second seller . November price MEG Europe

The contract price of MEG for November shipments was agreed on the terms of delivery FD NWE (with delivery to North-West Europe).

It was approved after the initial price for the November delivery was agreed upon, which was achieved along with the approval of the October contract price on Tuesday, November 13. November price MEG Europe

Thus, the necessary configuration was reached for the approval of the contract price: confirmation was received from two producers / sellers and two consumers / buyers.

Market players in Europe were expecting a decrease in the MEG contract price in November, amid falling spot prices in Europe for some time, following the continued decline in prices in Asia, as well as lowering crude oil prices and a further decline in trading activity in the polyester market. November price MEG Europe

Earlier, it was noted that negotiations on contractual prices of MEG were all the time delayed since June of the current year, which created administrative difficulties for the wider market.

MEG along with terephthalic acid (TFA) is one of the main components for the production of polyethylene terephthalate (PET). November price MEG Europe

According to the ICIS-MRC Price Review , the cost of Russian PET in November for spot and contract buyers will be in the range of 110,000-115,000 rubles. per ton, CPT Moscow, including VAT. November is traditionally the market for PET buyers when the supply of material exceeds the demand for it. November price MEG Europe

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Author:                Margarita Volkova