Sinopec Monoethylene Glycol Prices - Arhive
Sinopec Monoethylene Glycol Prices
Sinopec Raises September MEG Prices In East China By CNY530 Per Ton
MOSCOW – China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, set September 25 September contract prices for monoethylene glycol (MEG) in eastern China at CNY5 180 (USD720.5) per tonne, which is CNY530 or USD74 per tonne higher than the previous month, a source in ICIS said company.
The increase in MEG prices is explained by a decrease in stocks, as well as attacks on oil plants in Saudi Arabia. Four plants of Saudi companies have a total MEG capacity of 1.835 million tons per year. Sinopec Monoethylene Glycol Prices
MEG spot prices in China on September 23 were at CNY5 135-560 per tonne.
MEG along with terephthalic acid (TFA) is one of the main components for the production of polyethylene terephthalate (PET).
According to ScanPlast of Market Report, in Russia the total estimated consumption of PET in July of this year decreased by 4% compared to the figure a year earlier. In total, according to the results of the seven months of 2019, 428.79 thousand tons of PET were processed in the Russian Federation.
Author: Anna Larionova