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Markets :: Basic Chemicals :: Petrochemicals :: Ethylene glycol

EG Prices Tumble on Weak Demand

9:14 AM MDT | August 25, 2008 | Rebecca Coons

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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