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Ethylene glycol is created from ethylene (ethene), by way of the intermediate ethylene oxide. Ethylene oxide reacts with h2o to create ethylene glycol according to the chemical equation
In Q3 2024, the Mono Ethylene Glycol (MEG) pricing within the APAC region exhibited a mixed craze. Over the 1st two months from the quarter, MEG prices amplified considerably, pushed by robust desire in the downstream PET current market, which was buoyed by peak seasonal consumption. This price escalation was more supported by elevated generation costs, superior upstream crude oil prices, and mounting cargo freight prices amid escalating geopolitical tensions. Nonetheless, as being the quarter progressed, MEG prices began to decline, affected by extra inventory, accelerated generation fees, and lessened need from both domestic and Global markets.
Also, Substantial inflation stored demand under seasonal expectations, when the large stock stage led to a price drop within the domestic sector throughout Q3.
Ethylene glycol is a clear, colorless, and just about odorless liquid that is extensively utilised in a number of industrial applications, such as as an antifreeze and coolant in cars and airplanes. It is additionally utilised as being a solvent in the creation of plastics as well as other solutions.
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The demand for ethylene glycol is driven by quite a few components, together with inhabitants expansion, financial enhancement, as well as increasing use of plastics and also other products which involve ethylene glycol as a Uncooked material.
The price of Mono-Ethylene Glycol (MEG) within the German current market increased as a result of robust polyester sector desire in the 1st 50 % with the quarter. The second half noticed strain from the fundamentals of weak need and oversupply on the eu MEG marketplace, which consequently set pressure on the ecu Ethylene worth chain.
Excellent degree F: Details is from an individual resource which we take into account indicatively right, but the information is anecdotal and we can't verify the information.
Efficient inventory management played a critical purpose as manufacturers managed optimum inventory ranges to circumvent overproduction. Additionally, Worldwide imports ended up regular devoid of significant disruptions in offer chains. Secure upstream Ethylene prices further supported this equilibrium, shielding MEG prices from exterior economic fluctuations.
It's also utilized as a humectant in the tobacco field and like a moisture-absorbing agent in products which include air fresheners and dehumidifiers.
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The quarter also witnessed a 3% rise from your past quarter in 2024, indicating a gradual but consistent escalation in prices driven mostly by supply-side aspects. In Germany, the marketplace exhibited a robust correlation involving MEG prices and The prices of feedstocks, especially Ethylene Oxide. By the top in the quarter, the price for MEG achieved USD 694/MT FD Hamburg, highlighting a strengthening market sentiment characterized by a steady and persistent Monoethylene glycol price surge through the entire time period.