In the United States market, month started with an upward trend for MEG, mainly due to the tight supply conditions. While the demand for the MEG remained firm during the period. Additionally, US Federal reserve reported that the industrial production contracted during by x.x, monthly basis in May xxxx, also supported the trend. The Market experienced a number of shutdowns which resulted in the tight MEG supply.
Production for MEG and other by products including DEG and TEG remained down in Lotte Chemical Louisiana for the entire of May. Indorama Ventures鈥� petrochemical complex in Clear Lake also underwent for the maintenance shutdown during late May. Additionally, In Canada, Alberta based MEGlobal remained shutdown during the early week of June while Shell Canada&#xx;s Scotford plant also declared Force Majeure and ceased operations from the late May to the June xx due to...
