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MEGlobal announces ACP for December 2020

November 12/2020

MOSCOW (MRC) -- MEGlobal has nominated its December monoethylene glycol (MEG) Asian Contract Price (ACP) at USD660/tonne, up by USD10/tonne from November ACP, said the company.

Before that MEGlobal announced that its Asian Contract Price (ACP) for monoethylene glycol (MEG) was USD650/MT CFR Asian main ports for arrival November 2020. The November 2020 ACP reflects the short term supply/demand situation in the Asian market.

The price is on a CFR (cost and freight) Asia basis. Spot MEG supply remained limited as most producers were running their units at reduced rates to cope with poor margins.

As it was written earlier, MEGlobal announced that its Asian Contract Price (ACP) for monoethylene glycol (MEG) was USD640/MT CFR Asian main ports for arrival October 2020.

MEG is mainly used in the production of polyester fibres, resins and films (around 80% of global consumption), followed by use in polyethylene terephthalate (PET) resin. It is also used as automotive antifreeze.

As per MRC' ScanPlast, calculated consumption of polyethylene terephthalate (PET) reached 52,71o tonnes in September 2020, down 27% compared to the same time a year before. Total consumption of PET in Russia in the nine months of 2020 reached 530,750 tonnes, down 22% than the same indicator last year.

MEGlobal is a fully integrated supplier of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG).
Author:Anna Larionova
Tags:monoethylene glycol (MEG), PET-granulate, PET bottles, PET films, PET preforms, MEGlobal.
Category:General News
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