The United States shipped record amounts of MEG from May through July, 2019. Exports to several European markets, and also to Korea and Brazil, were up sharply.
Year to date through July, the US exported 564,000 tons, up 64% from the same period last year. The average price fell to $533/ton in July.
Mexico was the top export destination with 186,000 tons YTD, up 9%.
Belgium followed with 121,000 tons, up 209%. Much larger percentage increases were seen on exports to Korea, Turkey, Brazil, UK and others. .
Shipments to these and other countries are expected to rise when MEGlobal starts up its new 750,000 ton plant later this year.
Only 11,000 tons were shipped to China, down 81%, MEG having been assessed a 25% duty by China as of August 23rd, 2018.
Written by Jean J. Sudol. Data from International Trader Publications’ MEG World Trade Report, a continuously updated on line analysis of global trade in MEG.