Spot monoethylene glycol Asia
Spot prices of imported MEG in Asia are falling
MOSCOW – The spot prices of imported monoethylene glycol (MEG) in Asia have declined amid a large supply of material on the market, ICIS reported.
The supply of MEG suppliers at the end of April fell to USD580-583 per ton, CFR CMP, compared with prices agreed by buyers – USD572-575 per ton, CFR CMP.
Meanwhile, price proposals for the second half of May were at the level of USD585 per ton, CFR CMP versus proposals at USD580 per ton, CFR CMP.
Prices declined as suppliers began to actively offer stocks in warehouses on the spot, which put downward pressure on spot prices. However, this led to an increase in trading activity.
MEG is one of the key raw materials for the production of polyethylene terephthalate (PET). Spot monoethylene glycol Asia
According to the ICIS-MRC Price Review , in mid-April, the calm situation remains on the Russian PET market. There are no signs of a current or possible future shortage of material on the market. The cost of free spot volumes from Russian producers is growing. External background remains neutral and does not contribute to a significant increase in contract prices in the next month. It is expected that the formula prices in May will remain at a level below 100 thousand rubles. per ton, CPT Moscow, including VAT.
Author: Anna Larionova