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Glycols Historic Monthly Prices
Glycols Historic Monthly Prices (rolling 12 months)
- The impacts of Hurricane Ida are starting to be fully revealed, and they are certainly causing turmoil in the chemicals industry. Notably, manufacturers in the region have been unable to obtain basic raw materials, like nitrogen, that are needed to operate their plants; delays will continue until the infrastructure is operating at improved states.
- For glycols specifically, the timing couldn’t have been worse. Ida hit during planned turnaround season. MEGlobal, is currently down in both Texas and Canada for plant maintenance, for example, and both Shell Scotford and Lotte locations are slated to go offline this month, as well. With Indorama having an unexpected maintenance outage, Formosa running inconsistently over the last year, and now Shell Geismar declaring Force Majeure due to inability to obtain feedstocks, we are experiencing – no pun intended – the perfect storm for price increases across the glycols chain. The impact is hard to swallow, with spot EG offers soaring this week. We’ve already seen MEGlobal declare an increase in the ACP for October 1, and with short-term availability constraints expected to continue, others will likely also increase their contract pricing.
- It’s therefore no surprise that higher glycols would remain scarce and with elevating cots. TEG pricing is reported high (for the rare volume that can be found), and DEG ASP continues to climb. PG remains, as always, high-priced and difficult to find.
- We continue to ask: is there a light at the end of this dark and dreary tunnel? We’ve been in this gloomy state since August 2020, when Hurricane Laura hit Louisiana. Just as the market started to fall into order post-Laura, the Winter Storm Uri abruptly halted progress. We now see yet another rollback of progress with Hurricane Ida.
