MEG H1 imports into the EU fall 30% year on year - Eurostat

22 August 2013 17:22  [Source: ICIS news]

LONDON (ICIS)--EU monoethylene glycol (MEG) imports fell by 30% in the first half of 2013 compared with the same period last year, according to data from statistics agency Eurostat this week.

The year-on-year fall imports in the first six months of 2013 was attributed to week demand because of poor macroeconomic conditions.

This was particularly true of the downstream polyethylene terephthalate (PET) industry.

“I guess for the imports, the demand situation in Europe is not really good. The PET industry is suffering, they have no demand. The [downstream] coolants, it's not their main season and Europe [is] able to satisfy demand so there wasn't a need to bring product in," a producer said.

"Low Asian prices should have been a reason to bring things in, but there was no arbitrage,” it added.

MEG exports from the EU to the rest of the world fell by 24% year on year in the first half of 2013.

In June 2013, EU MEG exports fell by a sharp 59% to 5,998 tonnes, according to Eurostat.

There was a fall of 2% year on year for MEG imports in June, but overall volumes were largely unchanged compared with June 2012.

EU ethylene glycol imports and exports (Eurostat, tonnes)

 

June 2012

June 2013

% change

Imports

14,798

5,998

-59

Exports

51,556

50,477

-2

 

January-June 2012

January-June 2013

 

Imports

295,817

207,255

-30

Exports

44,883

34,136

-24

Eurostat import/export data is subject to revision as more detailed information becomes available.


By: Mark Victory
+44 208 652 3214



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