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MEGlobal raises ACP for February 2021 by USD70 per tonne

January 13/2021

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