In the United States market, TEG prices followed a bullish trend during the month by *.*** in FOB Houston basis. Price trends were mainly influenced by the high production costs and the tight supply condition. Feedstock Ethylene Oxide prices surged by *.*** supported by the higher crude oil prices.
TEG prices in the US market were also influenced by the tight supply conditions and the improved overseas demand. Indorama Ventures Public Company Limited (IVL) declared force majeure for late * days and Texas based MEGlobal also remained closed for the ** days for maintenance shutdown. At the same time, Shell Canada for the early ** days of June and Alberta based MEGlobal declared force majeure for early ** day and * days respectively due to the State emergency over wildfires. Due to this, the inquiry for the US TEG rose...
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