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MOSCOW (MRC) -- MEGlobal has announced
its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be shipped
in February 2021, according to the company's press release.
Thus, on
11 January, the company said ACP for MEG would be at USD740/MT CFR Asian main
ports for arrival in February 2021, up by USD70/MT from
December.
The February 2021 ACP reflects the short term
supply/demand situation in the Asian market.
As MRC reported earlier,
MEGlobal announced its January ACP for MEG at USD670/MT CFR Asian main
ports, up by USD10/tonne from December 2020.
MEG is one of the main
feedstocks for the production of polyethylene terephthalate
(PET).
According to ICIS-MRC Price
report, in Russia, market participants expected a traditional slowdown
in the buying activity in the first half of January, 2021. Market players
expect prices of material to rise significantly after the holiday
season. Producers said they planned to increase spot prices in January.
According to preliminary expectations, January PET prices might
exceed Rb92,000/tonne, including VAT.
MEGlobal is a fully integrated
supplier of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively
known as ethylene glycol (EG). |
