Mono Ethylene Glycol (MEG) prices experienced sluggishness across the major global regions in April xxxx. This is mainly driven by the demand conditions, shifting in trade behavior and fluctuating upstream crude oil prices.
In the U.S. market, MEG prices fell by x.xx in the first half of April xxxx. Though the demand condition showed a mild recovery from the downstream PET market, MEG price experienced a downward pressure coupled with the escalated trade tensions. Further, emerging trade tensions has weakened the buyers sentiments, limiting the MEG consumption levels domestically and also export levels.
Supply for the MEG also rose, operation resumption at Formosa Plastics Corporation and Nan Ya Plastics Corporation after the maintenance and force majeure in March, improving the availability of MEG in the market.
In the European market, MEG prices remained at a...
