AFPM '13: US EG anti-freeze spot falls on downward Asia pressure

25 March 2013 21:43  [Source: ICIS news]

SAN ANTONIO (ICIS)--Spot prices for US ethylene glycol anti-freeze (EGAF) fell in the past week amid downward pricing pressure from Asia, a market source said on Monday on the sidelines of the International Petrochemical Conference (IPC).

Today, EGAF spot prices are in the mid-40s cents/lb (high-$800s/tonne, high-€600s/tonne) range FOB (free on board) barges, said the source.

Before it declined, EGAF spot prices were around 52-53 cents/lb FOB barges, as assessed by ICIS.

Demand has also been poor, the source noted.­

In Asia, MEG prices fell further today as prices in MEG's forward trading on the Huaxicun Commodity Exchange in China fell by over 3%. ­­In the late afternoon, three April shipments of MEG in Asia were sealed at $990-995/tonne CFR (cost & freight) China Main Port, as assessed by ICIS.

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

Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.

($1 = €0.77)

By: Feliza Mirasol
+1 713 525 2653

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