MEGlobal announced its February Asian Contract Price (ACP) for monoethylene glycol (MEG) of US$930/MT CFR Asian main ports. In making this announcement, MEGlobal offered the following observations on the current market situation.
MEG demand has remained quite steady since last November, and current polyester production continues to operate at a healthy level.
MEGlobal believes MEG inventories in Asia remain at low levels. Over the past several weeks, spot MEG prices in China have reflected these market conditions.
On the supply side, all facilities in the MEGlobal supply network are currently operating normally.
Monoethylene Glycol (MEG/EG) can be used as wetting and plasticizing agent in the production of cellophane, glues and adhesives, textiles, printing ink, leather, cosmetics, paper and pharmaceutical products.
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