EG Prices Tumble on Weak Demand

Asian spot ethylene glycol (EG) prices have nosedived this month due to falling crude oil prices and severely reduced demand, sources say. Spot prices in Asia dropped $100/m.t. last week, to $850/m.t., sources say. Sabic nominated $1,150/m.t. cfr for its September Asian monoethylene glycol (MEG) contract, down $110/m.t. from August contracts, they say. EG prices are falling rapidly because demand in Asia has collapsed, the general world economy is down, and oil prices have dropped an unprecedented 25% from recent highs, says Doug Rightler, consultant at PCI...

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