About mono ethylene glycol price
About mono ethylene glycol price
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Whilst dwarfed by its use for a precursor to polyesters, ethylene glycol is helpful in more specialized areas of organic chemistry.
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Ethylene glycol is Employed in a wide range of industrial purposes, such as as an antifreeze and coolant during the automotive and aerospace industries, to be a solvent from the manufacture of plastics as well as other merchandise, and like a raw product in the production of other chemicals.
Specifically in Brazil, the market mirrored by far the most pronounced price fluctuations, mirroring the general trend in the area. Seasonal variables as well as interplay of offer and desire dynamics performed significant roles in shaping these price improvements. In spite of this decline, MEG prices remained 2.five% larger as opposed to previous quarter, and yr-on-12 months comparisons indicated a 6% enhance. By the tip of the quarter, the price for MEG was noted at USD 527/MT CFR Santos, highlighting the prevailing destructive pricing natural environment plus the troubles struggling with the field.
Once the US Gulf Coast storm, export tension on European manufacturers amplified majorly from Asian nations. Additionally, greater freight and container Charge also impacted the prices of upstream Ethylene, which ultimately triggered increase in prices of MEG over the region.
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Saudi Arabia experienced one of the most pronounced price improvements while in the area. In general traits indicated a solid boost in MEG prices, supported by peak summer season desire and heightened usage in downstream PET production sectors.
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The 3rd quarter of 2023 observed a reliable rise from the price of monoethylene glycol (MEG). This improve was principally attributed to expanding desire from downstream industries, which placed upward force on MEG prices. This upward movement was mostly pushed by the persistent Expense pressure arising from mono ethylene glycol price larger-priced feedstock Naphtha. During the upstream sector, the price of crude oil reached its optimum position. This boost was a consequence of a joint final decision by Saudi Arabia and Russia to increase their voluntary provide cuts right until the end with the 12 months. This extension prompted considerations among traders regarding possible shortages, especially given that the Wintertime need period approached.
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