MEGlobal will raise its July North American benchmark price for monoethylene glycol to 53 cents/lb ($1,168/mt), an increase of 2 cents/lb ($44/mt) from June, a company source said Friday.
Other US producers have been heard increasing July prices by 3-4 cents/lb, market sources said Friday.
Earlier this week, MEGlobal nominated its July Asia contract price for MEG at $1,130/mt CFR main port, up $50/mt from June, according to a company notice.
US MEG contracts for fiber and PET makers were assessed about a half cent lower for June at 45.90 cents/lb ($990/mt), based on producer discounts for large-volume buyers, unchanged from May's level.
MEGlobal said it would increase its diethylene glycol price by 3 cents in June to 72 cents/lb, the source said. Market sources have cited continued tightness in the market for higher DEG prices in recent months.
MEGlobal is a 50:50 joint venture of the US' Dow Chemical and Kuwait's Petrochemical Industries.
