In the complex landscape of global markets, the month of March xxxx witnessed a mix sentiment in the United States&#xx; Mono Ethylene Glycol (MEG) market. After a sudden incline, this week expressed declination, marked a x.xx reduction in MEG prices compared to the previous week, which is primarily attributed to a slight decrease in demand from the MEG downstream Polyethylene Terephthalate (PET) manufacturing industries. The reduction in demand observed from the areas such as PET bottle and food packaging sectors, influencing the general market sentiments. Concurrently, the prices of feedstock Ethylene Oxide experienced a surge of USD xx/MT during the same period, exerting additional pressure on MEG manufacturers’ margins.
The geopolitical tensions following the Ukrainian drone attack on Russian oil refineries contributed to the escalation of crude oil market prices. This recent event, coupled with disruptions in marine logistics due to incidents in the red sea, further...
