Prices MEG in Asia are growing amid the replenishment of stocks of material by market players – In the first half of this day, February 2, prices for import volumes of monoethylene glycol (MEG) in China continued to grow – Prices MEG monoethylene glycol Asia

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Prices MEG in Asia are growing amid the replenishment of stocks of material by market players 

Prices MEG monoethylene glycol Asia MOSCOW  – In the first half of this day, February 2, prices for import volumes of monoethylene glycol (MEG) in China continued to grow against the backdrop of continued activity on the accumulation of stock by market players for work after the end of the Chinese New Year celebration, ICIS .

The deals were at the level of USD1,034-1,035 per tonne, CFR CMP (main ports of China) at the beginning of the current day, supporting an upward price trend from the previous evening, when transaction prices were discussed at approximately USD1,027-1,030 per tonne, CFR CMP.

It seems that demand for imported materials will grow in the second half of February, especially after crude oil prices have strengthened market sentiment, market sources said.

MEG is the main raw material component for the production of polyethylene terephthalate (PET).

According to the Price Review of ICIS-MRC , the contract prices for PET granules are expected to grow in the Russian market in February.  However, the growth of Asian quotations in January was, to a large extent, smoothened by the strengthening of the ruble / dollar rate.  Individual buyers believe that strengthening the ruble and stabilizing Asian prices will put downward pressure on the cost of Russian PET on the spot in the middle of the first quarter.

mrcplast.ru

Author:   Margarita Volkova

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