Sabic raised the March contract price of MEG for Asia by USD20 per tonne – Sabic, the largest Saudi petrochemical company, has raised the contract price of monoethylene glycol (MEG) to supply material to the Asian market in March at USD20 per tonne compared to the February price level – Spot prices of MEG in Europe decreased – Spot prices monoethylene glycol MEG Europe - Arhive

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Sabic raised the March contract price of MEG for Asia by USD20 per tonne 

Sabic March contract price MEG Asia MOSCOW- Sabic, the largest Saudi petrochemical company, has raised the contract price of monoethylene glycol (MEG) to supply material to the Asian market in March at USD20 per tonne compared to the February price level, ICIS told a source in the company.

Thus, the company’s MEG contract prices for March deliveries to Asia will be at USD1,180 per tonne, CFR Asia.

Earlier it was noted that for the February deliveries of MEG to Asia Sabic raised the contract price for the material by USD90 per ton in relation to January 2018, setting it at USD1,160 per tonne, CFR Asia.

And before that, Sabic increased the contract price of MEG for deliveries in January this year in the Asian region by USD20 per ton compared to December prices – to USD1,070 per ton.

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

According to the Price Review of ICIS-MRC , in the Russian market the cost of spot volumes of PET produced by Senezh and Alco-Nafta is at the level of the beginning of the month in mid-February.

Alko-Nafta offers material on the spot for 92 000-96 000 rubles.  per ton, CPT Moscow, including VAT.

The Kaliningrad plant still has the largest volumes of free bottled PET.  The average cost of export deliveries is EUR980-1,000 per tonne, FCA Kaliningrad, excluding VAT.

Prices of Senezh are at the level of 94 000-96 000 rubles.  per ton, CPT Moscow, including VAT.  Volumes are limited.

SIBUR increased the cost of PET at its two plants by 2,500 rubles.  per ton from 86 500 rubles.  per tonne to 89,000 rubles.  per ton, FCA plant.  There are practically no free volumes.

Sabic is a diversified company producing chemical products, industrial polymers, fertilizers and metals.  It is the largest state company in Saudi Arabia.

Sabic is currently the world’s second largest producer of ethylene glycol, the third largest producer of polyethylene, the fourth largest producer of polypropylene.

Sabic reduced its net profit for the past year by 7% to SR23.43 billion (Saudi Reals), which is equivalent to USD6.24 billion, as the average price of sold products and the increased sales volumes decrease.

mrcplast.ru

Author:   Margarita Volkova

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Spot prices of MEG in Europe decreased  -Spot prices monoethylene glycol MEG Europe