Saudi petrochemical MEG prices September  - Arhive

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Sabic increased MEG prices by USD10 per tonne    Saudi petrochemical MEG prices September 

 MOSCOW – Sabic, the largest Saudi petrochemical company, has raised the contract price of monoethylene glycol (MEG) to supply material to the Asian market in October at USD10 per tonne compared to the September price level, ICIS source in the company said.

Thus, the company’s contract prices for September deliveries to Asia will be at USD1,120 per tonne, CFR Asia.Saudi petrochemical MEG prices September 

MEG prices are under pressure of slowing sales of polyester.  Nevertheless, demand is expected to remain at a high level in September and October, as no major changes are expected in the loading of polyester production capacity.

MEG, along with TPA, is one of the main raw materials for the production of polyethylene terephthalate (PET).Saudi petrochemical MEG prices September 

According to the ScanMap of the company MRC, in Russia the estimated PET consumption in July of this year increased by 2% compared to the previous year.

In total, in the first seven months of this year 387.29 thousand tons of PET were processed in Russia.  During the reporting month, Russian plants produced 52.90 tons of material.

The volume of production of PET granulate in July compared to last year increased by 2%.  For the period January-July, the production of Russian PET practically did not change – 334.74 thousand tons in 2018 against 331.39 thousand tons in 2017.

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 last year by 7% to SR23.43 billion (Saudi reais), which is equivalent to USD6.24 billion, as the average price of sold products and the increased sales volumes decrease.Saudi petrochemical MEG prices September 

mrcplast.ru

Author:   Anna Larionova