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First December MEG deal for European market

1 December 2016 / MEG Update

There was a first deal done between a Thai based PET producer and a Netherlands based global EOMEG producer at €765 per tonne DDP for December. This is a roll over from November. This is unusually early as the ethylene contract price in Europe for December has not yet been agreed. There has been a single agreement on ethylene for December down €45 from November (€970) – but no one has followed and both crude oil and naphtha have gone up noticeably due to the OPEC discussion. We wait to see if the roll over is confirmed.