According to a press statement from MEGlobal, the firm has announced its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be supplied in September 2021.
Thus, on August 11, the firm said that ACP for MEG would be USD870/MT CFR Asian major ports for delivery in September 2021, a USD30/tonne increase from the previous month.
The August 2021 ACP represents the Asian market’s short-term supply/demand condition.
As previously reported by MRC, MEGlobal published its August ACP for MEG at USD840/MT CFR Asian major ports, an increase of USD10/tonne over July.
MEG is a major feedstock in the manufacture of polyethylene terephthalate (PET).
Russian producers increased their July contract PET pricing to Rb102,000-114,000/tonne CPT Moscow, including VAT. In the lack of significant swings in the rouble exchange rate in August, contract prices are expected to rise further in September.
MEGlobal is a fully integrated provider of monoethylene glycol (MEG) and diethylene glycol (DEG), which are referred to together as ethylene glycol (EG).