25 March 2013 22:35 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--US triethylene glycol (TEG) prices have fallen below 100 cents/lb ($2,205/tonne, €1,698/tonne) and demand remains persistently weak, market sources said on Monday.
TEG demand has been poor during the winter, which is traditionally its strong season, the sources said on the sidelines of the International Petrochemical Conference (IPC).
Warmer-than-usual weather has curbed demand for TEG because it is normally used in winter to keep gas from freezing during delivery in gas pipelines.
The presence of “too many imports” has compounded the problem because sellers are hard-pressed to find enough buyers, one trader said.
As summer approaches, TEG demand will continue to be stifled as summer is the seasonal low period for that market.
“We expect TEG prices to go down during the summer,” said another market source at IPC.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.
($1 = €0.77)
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