MEGlobal announced its January Asian Contract Price (ACP) for monoethylene glycol (MEG) of US $930/MT CFR Asian main ports. In making this announcement, the company believes that the January ACP reflects the current supply/demand situation in the Asian market.
Demand from the downstream end-users in China remains strong as reflected from the relatively high operating rates. Overall inventory for MEG in China remains at reasonable levels.
In response to the improved market conditions and recent increases in the cost of crude oil, naphtha and ethylene in Asia, spot MEG prices have firmed up since early December.
On the supply side, all facilities in the MEGlobal supply network are currently operating normally.
marketing@alchempro.com
