MEGlobal’s MEG Asian contract price for May unchanged from April levels

14-Apr-14

Ethylene glycol manufacturer MEGlobal has announced that its Asian Contract Price (ACP) for monoethylene glycol (MEG) will be US$1100/ton CFR Asian main ports for arrival in May 2014, same as the ACP in April 2014. The company’s decision to keep the contract price unaltered for May reflects the short term MEG supply/demand situation in the Asian market, as per Fibre2fashion.com. 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 one of the world’s leading suppliers of MEG and diethylene glycol (DEG), collectively known as ethylene glycol (EG). Currently, MEGlobal produces about 1 million metric tons per year of EG, and markets in excess of 3.5 million metric tons per year.