MOSCOW (MRC) -- MEGlobal has announced its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be shipped in April 2022, according to the company's press release.
Thus, on 20 March, 2022. the company said ACP for MEG would be at USD930/MT CFR Asian main ports for arrival in April 2022, up by USD40/tonne from the previous month.
The April 2022 ACP reflects the short term supply/demand situation in the Asian market.
As MRC reported earlier, MEGlobal announced its March ACP for MEG at USD890/MT CFR Asian main ports, up by USD10/tonne from February.
MEG is one of the main feedstocks for the production of polyethylene terephthalate (PET).
According to ICIS-MRC Price report, the shortage of free PET quantities are expected to remain in Russia in April, whereas prices will continue to rise. PET prices for contract clients will also increase next month. Market participants said last week's deals for small lots of PET chips were done at Rb240,000-260,000/tonne CPT Moscow, including VAT.
MEGlobal is a fully integrated supplier of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG).