US spot MEG prices climb to 880/mt FOB as supply tightens

摘要

New York-US spot monoethylene glycol prices increased nearly 50/mt in early April to close at 880/mt FOB USG as supply tightened from firm demand and a cut in exports from Mexico,sources said April 5.Demand has been strong from new PET plants in the US and Brazil,and PET producers were heard to be running hard from the onset of peak demand for PET resin from bottle makers gearing up for the summer beverage season.In late March,market sources said on the sidelines of the NPRA convention in San Antonio that exports were at 830/mt FOB USG,but exports in the first week of April were talked at 40 cents/lb or 880/mt FOB USG.This price was too high for export to Europe or Asia and was heard only workable in the domestic market.