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MEGlobal raises ACP for March 2021 by USD50 per tonne

February 12/2021

MOSCOW (MRC) -- MEGlobal has announced its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be shipped in March 2021, according to the company's press release.

Thus, on 10 February, the company said ACP for MEG would be at USD790/MT CFR Asian main ports for arrival in March 2021, up by USD50/MT from February.

The March 2021 ACP reflects the short term supply/demand situation in the Asian market.

As MRC reported earlier, MEGlobal announced its February ACP for MEG at USD740/MT CFR Asian main ports, up by USD70/tonne from January 2021.

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

According to ICIS-MRC Price report, there was an acute shortage of PET in the Russian market. As a result, there was speculative excitement in the market. Sellers were raising prices of Russian PET chips, while the buyers who needed material had no other alternative at the moment.

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, MEGlobal, Russia.
Category:General News
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