February xxxx, Mono Ethylene Glycol (MEG) prices in the US market witnessed a bullish trend, notably price surge of around xxx, the highest in the past six months. In the past several months, the global market of MEG has been facing a shortage due to plant shutdowns or operating capacity reduction by the market key players.
Reportedly, Dow Chemical Company, Texas reduced the operation capacity from xxxxx TPM to xxxxx TPM, Indorama Venture in Texas reduced operation capacity from xxxxx TPM to xxxxx TPM and Louisiana based Lotte Chemical Corporation reduced from xxxxx TPM to xxxxx TPM owing to the Freezing Cold weather in the January xxxx. This unexpected MEG production loss turned the inventory depleted that eventually affected the spot price of the product. Additionally, a global key player, Saudi Arabia, reports the shutdown of the both units of Eastern Petrochemical company (SHARQ), No.x and...
