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MEG stocks in China fell below 1 mln tonnes

December 22/2020

MOSCOW (MRC) -- China's monoethylene glycol (MEG) stocks fell in mid-December below the 1 million mt mark for the first time since February, according to S&P Global with reference to market sources.

Thus, MEG stocks were at 976,000 mt, down by around 20,000-30,000 mt from a week ago.

As MRC reported earlier, MEGlobal has announced its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be shipped in January 2021. Thus, on 11 December, the company said ACP for MEG would be at USD670/MT CFR Asian main ports for arrival in January 2021, up by USD10/MT from December. The November 2020 ACP reflects the short term supply/demand situation in the Asian market.

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

According to ICIS-MRC Price report, in Russia, December contract PET prices were in the range of Rb68,100-71,000/tonne CPT Moscow, including VAT. Most producers raised their prices of material in the second week of December and expect further price increases by the end of this month.


mrcplast.com
Author:Margaret Volkova
Tags:Asia, monoethylene glycol (MEG), PET-granulate, packaging, MEGlobal, China, Russia.
Category:General News
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