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MEGlobal hikes MEG Asian contract price for Jan'14
11
Dec '13
Ethylene glycol manufacturer MEGlobal has increased its Asian Contract Price (ACP) for monoethylene glycol (MEG) to US$ 1210/ton CFR Asian main ports for arrival in January 2014 from ACP of US$ 1200/ton CFR Asian main ports in December 2013.
 
The company’s decision to slightly increase the contract price for January reflects the short term MEG supply/demand situation in the Asian market.
 
Established in 2004, MEGlobal is a joint venture between The Dow Chemical Company of the United States, and Petrochemical Industries Company (PIC) of Kuwait.
 
MEGlobal is a world leading supplier of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG). Currently, MEGlobal produces about 1.0 million metric tons per year of EG, and markets in excess of 3.5 million metric tons per year.
 
EG is used as a raw material in the manufacture of polyester fibers, polyethylene terephthalate resins (PET), antifreeze formulations and other industrial products.
 

Fibre2fashion News Desk - India

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