European MEG spot prices jump dramatically on supply tightness from US disruptions

摘要

LONDON(ICIS)--The ethylene glycol force majeure declarations in the US following Hurricane Laura have disrupted European access to imports,leading to unprecedented tightness and a huge spike in spot prices.Before the hurricane hit,Europe was already a tight market,as customers replenish stocks after the summer season.Local turnarounds are also adding to the tightness as Shell's Moerdjik facility came offline this week and is expected to be down for around six weeks.