MOSCOW (MRC) -- MEGlobal has announced its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be shipped in February 2022, according to the company's press release.
Thus, on 11 January, 2022. the company said ACP for MEG would be at USD880/MT CFR Asian main ports for arrival in February 2022, up by USD30/tonne from the previous month.
The February 2022 ACP reflects the short term supply/demand situation in the Asian market.
As MRC reported earlier, MEGlobal announced its January ACP for MEG at USD850/MT CFR Asian main ports, down by USD50/tonne from December.
MEG is one of the main feedstocks for the production of polyethylene terephthalate (PET).
According to ICIS-MRC Price report, the situation in the Russian domestic PET market was steady in the first working week of the year. Prices of PET chips for contract buyers decreased from December at the beginning of the year, whereas spot prices generally remained the same.
MEGlobal is a fully integrated supplier of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG).