US July EG falls 5 cents/lb, August projected to rise

27 July 2012 20:32  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--US ethylene glycol (EG) contract pricing decreased in July because of lower feedstock, market players said on Friday.

Industrial-grade ethylene glycol (EGI) was assessed down for July contract ranges by 5 cents/lb ($110/tonne, €89/tonne) to 50-53 cents/lb during the week, according to ICIS.

Buyers said that most producers issued 2-cent hikes for August. Since one producer has issues that will limit production through August and another producer issued a force majeure this week on EG, prices could move up in August as supply is tight.

Major EG producers in the US include LyondellBasell, Huntsman, MEGlobal, Indorama, SABIC and Shell.

($1 = €0.81)

By: Leela Landress
+1 713 525 2653

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