LONDON(ICIS)--European monopropylene glycol (MPG) prices fell to their lowest level since October 2013 this week as de-icing demand continues to be weak and availability continues to climb, market sources said Friday.
Producers said their prices are largely stable, but conceded that de-icer demand is not where it was projected to be at this point in February due to the unusually warm European weather. Demand from the unsaturated polyester resin (UPR) sector, however, has been better than expected, a producer added.
“There is no real winter,” a producer said. “As a consequence the de-icing sector is in a wait-and-see mode.”
A trader confirmed demand is weak and prices have fallen, quoting €1,190/tonne FD in Germany.
Prices fell by €10/tonne on the low end to €1,190-1,260/tonne FD (free delivered) northwest Europe (NWE).