Producer nominates 2-cent/lb US DEG hike for July – trader

18 June 2010 23:12  [Source: ICIS news]

HOUSTON (ICIS news)--Producer MEGlobal announced a 2-cent/lb ($44/tonne or €36/tonne) price-hike proposal for July US diethylene glycol (DEG), a trader said on Friday.

The proposed increase, which was prompted by the short-term supply and demand situation, was likely to be resisted by buyers amid competition from imported product, a trader said.

DEG is a co-product of ethylene glycol (EG) and is in wide use as a solvent. It is also used in a variety of consumer goods.

US EG producers include Equistar, Huntsman, MEGlobal, Old World, SABIC and Shell.

($1 = €0.81)

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By: Gene Lockard
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