In the early half of November 2025, Monoethylene Glycol (MEG) prices exhibited a diverse price trend across the key global markets. In this, USA, MEA and Asian Pacific market witnessed a bearish trend while the European MEG prices rose during the period. This is mainly shaped by the supply-demand dynamics, feedstock market, seasonal changes and the logistics conditions. This is further supported by the weakness across the global crude oil prices amid higher US inventory and rising output from OPEC+ nations. EIA reported on November 7, 2025, West Texas Intermediate crude oil traded at USD 60.54 per barrel, down USD 1.21 from a week earlier and USD 10.15 lower than the price recorded one year ago.
In the United States market, MEG prices trended downward, with prices declining by 3.85% during the early half of the month. This is primarily driven by ample domestic supply and limited demand conditions. Feedstock ethylene oxide prices trended downward amid soft upstream conditions, reducing the production costs. On the demand side, MEG domestic consumption from the downstream PET industry remained steady; however, subdued export demand from overseas markets including Asia-Pacific, coupled with seasonal softness and potential trade tensions, tempered overall market activity.
In the European market, prices for the MEG trended upward, with German market witnessed a rise of 1.59% during the early half of the month. This is mainly due to the supply disruption, which caused the prices to rise during the period despite steady demand conditions. Logistical constraints at key European ports, including vessel waiting times, yard utilization pressures, and terminal maintenance influenced the trade, pressure the available inventory, led to rise the prices. Though the domestic feedstock Ethylene Oxide prices declined by 2.33% amid weak upstream support.
In the MEA market, MEG prices witnessed a bearish trend during November H1. In Saudi Arabian market, MEG prices declined by 2.08% due to low-cost support and weak overseas demand conditions. overseas demand inquiries declined sharply, particularly from Asian market where MEG consumption from PET and polyester segments affected by seasonal weakness and elevated inventories.
Asian Pacific market mirrored the same trend during the period. Chinese market reported a decline of 1.79% in November H1, influenced by the low production costs, high supply and low demand conditions for MEG. Feedstock Ethylene Oxide prices declined by 2.26%, weakening the production costs. Off-season conditions in the PET segment and lukewarm procurement from the polyester value chain contributed to muted consumption, further weighed down by slow downstream order intake and inventory accumulation.
