|
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. |
