Global MEG Prices Decline in October H1 Amid Weak Feedstock Support and Subdued Downstream Demand; Europe Market Drops 3.1%

Rene Swann 23-Oct-2025

In October H1, Mono Ethylene Glycol (MEG) prices declined across the key global markets including USA, Europe and Asian market. This is mainly attributed to the insufficient cost support from the feedstock market and the low demand conditions across the key downstream markets. Prices for the key feedstock Ethylene Oxide remained weak amidst the softness across the upstream crude oil prices. EIA reported the consecutive weakness in the global crude oil prices and the prices for the WTI (west Texas Intermediate) crude oil reached USD 58.30 per barrel on October 17, 2025, from USD 61.65 per barrel on October 3, 2025. This is mainly due to the plan of potential production hike by OPEC+ members in November 2025 and the return of inventory supply addition from Iraq, increasing supply and driving the crude oil price weaker. At the same time, consumption for the MEG across the key downstream PET and Polyester market remained below expectations.

In the US market, MEG prices experienced a bearish trend and declined by **.** during the early half of the month and reached at USD ***/MT FOB US Gulf. This is mainly due to the limited cost support from the feedstock and the weak demand from the downstream market. Supply for the MEG remained high during this period and the cost pressure from the upstream crude oil market was low. Despite the tariff imposition on the imported PET and rPET coming into US boundary, the consumption for MEG from the downstream PET market were limited during the period. Trading activity was subdued, and the downstream buyers maintained a cautious, wait and watch approach. Significant congestion and delays across the key ports also influenced overseas exports, keeping the domestic inventory high and influencing the price trend.

European MEG market mirrored the trend observed across...

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