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MEGlobal reduces ACP for March 2020 by USD60 per tonne

February 13/2020

MOSCOW (MRC) -- MEGlobal has announced its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be shipped in March 2020, according to the company's press release.

Thus, on 12 February the company said ACP for MEG will be USD680/MT CFR Asian main ports for arrival in March 2020, down by USD 60/MT from February.

The March 2020 ACP reflects the short term supply/demand situation in the Asian market.

As MRC reported earlier, MEGlobal announced its February ACP for MEG at USD740/MT CFR Asian main ports, up by USD20/tonne from January.

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

According to ICIS-MRC Price report, supply of PET continued to exceed demand for it in the Russian domestic market. A possible increase in PET chips processing volumes before the preform season is expected in March.
Export prices in China fell and fixed at a lower level  after the end of the holiday period in the country because of limited shipments and partial quarantine in ports. It is expected that the upward trend of the dollar against the rouble, on the one hand, and a decline in Chinese prices, on the other, will lead to a slight change in the contract prices of PET chips next month.

MEGlobal is a fully integrated supplier of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG).
Author:Margaret Volkova
Tags:Asia, monoethylene glycol (MEG), PET-granulate, packaging, MEGlobal, China, Russia.
Category:General News
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