US Mono Ethylene Glycol (MEG) prices rose sharply through March, supported by constrained global supply, rising upstream costs, and firm PET demand. Early buying absorbed limited cargoes, while tightening MEG availability, logistical disruptions, and seasonal demand peaks intensified overall market pressure. A sustained 12-week bullish trend and thin spot liquidity kept sentiment strong, with buyers actively competing for limited volumes. Upstream drivers, including a surge in crude oil and Ethylene Oxide prices, along with production cuts and maintenance shutdowns, further tightened supply conditions. Additional pressure came from Middle East disruptions and restricted trade flows through key shipping routes. Weekly price gains reflected a steady upward momentum into early April, reinforcing the bullish outlook. Looking ahead, MEG prices are expected to remain firm, supported by ongoing supply constraints, elevated logistics costs, and planned price hikes by key producers, while demand from the PET sector continues to underpin the market fundamentals.
