Shell October monoethylene glycol MEG prices USA - Arhive

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Shell raised October MEG prices in the US Shell October monoethylene glycol MEG prices USA

 

Shell October monoethylene glycol MEG prices USAMOSCOW  – Shell Chemicals, one of the world’s largest oil and gas companies, announced an increase in the contract price of monoethylene glycol (MEG) for supplies to the US market at 1 cent per pound or USD22 per tonne in October, ICIS reported, citing a letter to their customers. Shell October monoethylene glycol MEG prices USA

Thus, the price increase came into force on October 1 and is consistent with the terms of current contracts.

Meanwhile, the company did not mention in its letter about the reason for the rise in MEG prices.Shell October monoethylene glycol MEG prices USA

Earlier, it was noted that Shell had last raised MEG prices in the region since May 1 of the current year by 4 cents per pound (USD88 per ton).

The main manufacturers of MEG in the USA are Eastman Chemical, Huntsman, Indorama Ventures, LyondellBasell, Nan Ya Plastics, Shell Chemical and MEGlobal.

MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).Shell October monoethylene glycol MEG prices USA

According to the ICIS-MRC Price Review , in October, the downward trend in demand in the Russian PET market is expected to continue.

The cost of material for contract customers will increase this month by about 3 thousand rubles. per ton. A rise in spot prices is not expected.

According to one of the manufacturers, the market is gradually moving into a phase of excess of supply over demand for material.

Royal Dutch Shell is an Anglo-Dutch oil and gas company headquartered in The Hague (Netherlands). Shell conducts geological exploration and production of oil and gas in more than 80 countries around the world.Shell October monoethylene glycol MEG prices USA

The company fully or partially owns more than 30 refineries. In addition, Shell owns a significant number of chemical enterprises, as well as the production of solar panels and other alternative energy sources.

mrcplast.ru

Author:                Margarita Volkova