MOSCOW (MRC) -- MEGlobal has announced its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be shipped in January 2022, according to the company's press release.
Thus, on 14 December, the company said ACP for MEG would be at USD850/MT CFR Asian main ports for arrival in January 2022, down by USD50/tonne from the previous month.
The January 2022 ACP reflects the short term supply/demand situation in the Asian market.
As MRC reported earlier, MEGlobal announced its December ACP for MEG at USD900/MT CFR Asian main ports, down by USD120/tonne from November.
MEG is one of the main feedstocks for the production of polyethylene terephthalate (PET).
According to ICIS-MRC Price report, next month's contract prices of PET chips are expected to fall down in the Russian domestic market on lower Asian prices, on the basis of which PET prices are calculated for the vast majority of formula customers. However, appreciation of the dollar against the rouble will significantly reduce the amount of the decrease.
MEGlobal is a fully integrated supplier of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG).