Mono Ethylene Glycol (MEG) Prices Index: Trend, Chart, News, Graph, Demand, Forecast
In the first quarter of 2025, the North American Mono Ethylene Glycol (MEG) market followed a bullish trend, with prices steadily rising throughout the period. The month of January witnessed a sharp mid-month increase in MEG prices due to a significant uptick in Ethylene Oxide (EO) costs and supply disruptions caused by severe winter storms affecting the U.S. Gulf Coast, particularly Texas. These weather events curtailed production at several facilities, tightening supply and lifting prices, despite lackluster demand from the downstream PET segment. Limited logistics movement and strategic inventory controls further supported price firmness.
February continued with restricted supply, as scheduled maintenance turnarounds at major plants—including Dow’s Seadrift and Indorama’s Clear Lake facilities—kept spot availability tight, even as weather conditions improved and some production resumed. This supply-side pressure sustained elevated price levels. By March, operations across most plants normalized and the absence of further major supply disruptions led to price stabilization. While demand from the PET sector remained weak, owing to increasing competition from recycled PET (rPET), the market saw no major downward correction. Throughout the quarter, MEG prices in the U.S. rose by 2.4% from the previous quarter, ending March at approximately USD 483/MT FOB US Gulf, reflecting tight supply and cautious sentiment.
Get Real time Prices for Mono Ethylene Glycol (MEG) : https://www.chemanalyst.com/Pricing-data/mono-ethylene-glycol-4
In Europe, the MEG market experienced a similar bullish price trajectory, shaped by evolving supply-demand fundamentals and global trade developments. January began with a brief softening in prices across Germany due to sluggish PET demand and low industrial activity lingering from year-end 2024. However, prices began recovering toward the month’s close, supported by a spike in EO prices and global supply concerns stemming from disruptions in U.S. production. February brought consecutive gains as PET packaging and beverage sectors showed modest demand recovery amid rising seasonal temperatures. Although the EU's push for recycled PET adoption tempered growth, constrained supply—exacerbated by a force majeure declaration by Lotte in the U.S.—kept upward pressure on prices. March saw a steeper price rise, driven by ongoing tightness in supply, port congestion in Germany, and proactive inventory building ahead of peak demand season. Despite subdued downstream consumption, price momentum persisted. By the end of Q1, MEG prices in Germany surged by 17.5%, settling at USD 768/MT FD Hamburg.
In the Asia-Pacific (APAC) region, the MEG market showed mixed performance during Q1. January and February witnessed price gains fueled by delays in production restarts in the Middle East and Southeast Asia, which tightened supply. This, combined with healthy PET sector demand and rising crude oil prices, supported firm market sentiment. Additionally, anticipated Ramadan-driven buying and ongoing plant maintenance in China and the Middle East contributed to reduced availability. However, the bullish trend reversed in March as MEG prices declined across the region. Weak demand from PET and polyester markets, along with cautious procurement strategies and declining crude oil prices, put downward pressure on prices. By the end of Q1, MEG prices in Indonesia fell to USD 526/MT CFR Tanjung Priok, reflecting the regional shift toward bearishness.
In South America, MEG prices trended upward during January and February, driven primarily by global supply disruptions despite moderate local demand. January price increases were triggered by extreme cold weather in the U.S. Gulf Coast, leading to production halts and reduced export volumes, which in turn tightened global supply. U.S. production cost increases further supported higher prices in the region. February saw prices remain firm as supply conditions remained strained. Though PET demand in Brazil was muted due to economic uncertainty and soft consumer activity, stable import flows and smoother port operations helped maintain elevated price levels. In March, prices stabilized as U.S. operations normalized and upstream costs declined. Demand stayed steady, supported by consistent downstream production. Brazil saw the most notable market activity, with MEG prices reaching USD 555/MT CFR Santos by quarter-end.
In the Middle East and Africa (MEA), the MEG market presented a mixed outlook over Q1. January began with slight price declines due to ample inventories and stable production, while demand from key Asian markets was weak post-holiday. However, mid-month, regional prices rebounded as shutdowns at key plants such as Sharq Unit-4 in Al Jubail and MEGlobal tightened supply. Rising global crude prices and heightened international demand, particularly following U.S. production disruptions, supported further gains. February brought a general upward trend driven by balanced supply and improved regional manufacturing. While demand in the early part of the month remained soft due to the Lunar New Year, it gradually picked up later. In March, however, the market softened due to sluggish demand, declining PET consumption in Asia, and falling global oil prices. Although production levels remained stable and Saudi Arabia expanded exports, logistical disruptions during Ramadan and weak market momentum drove a late-quarter decline. By the end of Q1, MEG prices in Saudi Arabia eased to USD 566/MT FOB Riyadh.
Get Real time Prices for Mono Ethylene Glycol (MEG) : https://www.chemanalyst.com/Pricing-data/mono-ethylene-glycol-4
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