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News & Prices of MEG - Monoethylene Glycol Feedstock |
For real time updates on News & Price Analysis Kindly contact us at info@polymerupdate.com
Tel: (91-22) 30408821 - 25
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| Feedstock prices |
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Feedstock prices - Mar 1st, 2011
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| Feedstock News of MEG |
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MEG plant operated by Polychem at full rates - - Mar 21st, 2011 [05:50]
An industry source based in Indonesia informed a polymerupdate team member on the status of an MEG plant operated by Polychem, Indonesia.
The source said, “presently, the plant is running at full rates. A steady demand exists for the product in the domestic markets. A maintenance turnaround had been undertaken at the plant in mid October 2010. The shutdown remained in progress for around one month.”
The source added, “located at Merak, Indonesia, the plant has a production capacity of 120,000 mt/year.”
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MEG prices decline in Asia - Mar 21st, 2011 [10:50]
MEG prices in Asia last week declined. CFR China prices were assessed down at the USD 1205/mt levels with bids heard down at below the USD 1200/mt mark. The price fall was attributed to subdued regional buying sentiments and reports of a high inventory build up in China.
A trader in conversation with a polymerupdate team member said, “ the tanks in China remain full of unutilized MEG. With reports surfacing of poor demand trends in the downstream polyester markets in China, the purchase pulse in MEG is unlikely to improve.”
He added, “ for the month of April, we have put forward our bids at the USD 1180/mt CFR China mark. Sellers have countered our bids with offers at the USD 1210/mt CFR levels.”
Meanwhile Shell Chemicals and SABIC have nominated their contract price for April at the USD 1400/mt CFR mark while MEGlobal has announced its nomination at the USD 1350/mt CFR mark. While SABIC’s price is unchanged from March, Shell’s nomination is up USD 50/mt while MEGLobal’s nomination is down by USD 30/mt
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