Japan Chemical Trading Blog
Monoethylene Glycol (MEG) Market Rebound
According to The Chemical Daily on June 9, the Asian market of Monoethylene Glycol has bounced back from less than USD900 per ton to close to USD1,000.
MEG is a colorless, odorless liquid, mainly used as raw material of PET resin. As it dissolves in water, has relatively low toxicity and a low melting point, it is used for an anti-freezing solution in cars as well.
A speculation of a downturn in supply from major manufacturers is emerging, so the prices have been sharply recovering since late May.