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Indicative price brief for Ethylene Glycol MEG - Northwest Europe. Methodology: trade publications, broker reports, and industry sources reviewed by Nexchem. This is directional intelligence, not a regulated benchmark assessment.
NWE monoethylene glycol and diethylene glycol delivered pricing. Middle East MEG import disruption from Hormuz closure, ethylene oxide hydration production economics, polyester and antifreeze demand, and 3-scenario price outlook. Published monthly.
NWE MEG pricing is up 11.0% year on year as the same Middle Eastern supply disruption affecting CFR China MEG flows hits European import markets - SABIC, EQUATE, and Lotte Chemical Saudi Arabia normally supply approximately 48% of NWE MEG import requirements, and Hormuz closure disrupting those flows is the primary driver of the EUR 68 per metric tonne year on year price increase in a market where European domestic production covers only approximately 35% of NWE demand.
NWE MEG supply is produced at integrated ethylene oxide hydration plants at BASF Ludwigshafen, Shell Moerdijk, and Dow Terneuzen, collectively approximately 1.2 million MT per year of European domestic production. NWE demand of approximately 3.4 million MT per year makes European domestic production insufficient at approximately 35% of demand, requiring approximately 2.2 million MT per year of imports primarily from the Middle East and secondarily from the US Gulf Coast and Asia. The Hormuz closure disrupting the 48% Middle Eastern import fraction creates a structural supply gap of approximately 1.0 million MT per year equivalent that must be filled by more expensive USGC and Asian supply. Demand for Ethylene Glycol MEG in Northwest Europe is driven by competing value chains across derivative chemical production and fuel blending applications. The price discovery mechanism reflects whichever end use provides the higher realised value at the margin, creating a dynamic pricing floor that shifts with benzene, gasoline, and derivative operating rates. Hormuz Supply Impact on NWE - SABIC Al-Jubail, EQUATE Kuwait, and Lotte Chemical Saudi Arabia supply approximately 48% of NWE MEG import requirements under normal conditions.
Hormuz closure has disrupted these flows significantly, with vessel scheduling delays of 2 to 4 weeks a. In the current 2026 supply and demand environment, Ethylene Glycol MEG pricing in Northwest Europe reflects both structural market conditions and active geopolitical supply chain disruption. The IMF confirmed in March 2026 that the closure of the Strait of Hormuz had disrupted approximately 20% of global seaborne oil and LNG supply. For NWE MEG, the Hormuz disruption is the primary and direct pricing driver - SABIC Al-Jubail, EQUATE Kuwait, and Lotte Chemical Saudi Arabia together represent approximately 48% of NWE MEG import supply, and the Hormuz closure has disrupted these flows in the same pattern as Middle Eastern HDPE, PP, and ammonia. NWE MEG is among the European chemicals with the highest Middle Eastern import dependency and therefore among the most directly affected by the Hormuz closure in proportional supply impact terms. Limits Asian Export Arbitrage to NWE - Chinese coal-based MEG at approximately CNY 3,640 per metric tonne domestic provides a production cost floor that limits how far CFR China MEG pricing can fall without Chinese coa.
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The paid report includes full scenario assumptions, quarterly price ranges for Q3 2026, Q4 2026, and Q1 2027, probability weighting for each scenario, and a procurement recommendation tailored to each case - covering what to do if the bull case materialises, what to hedge in the base case, and how to protect exposure in the bear case.
The IMF confirmed in March 2026 that the closure of the Strait of Hormuz had disrupted approximately 20% of global seaborne oil and LNG supply. For NWE MEG, the Hormuz disruption is the primary and direct pricing driver - SABIC Al-Jubail, EQUATE Kuwait, and Lotte Chemical Saudi Arabia together represent approximately 48% of NWE MEG import supply, and the Hormuz closure has disrupted these flows in the same pattern as Middle Eastern HDPE, PP, and ammonia. NWE MEG is among the European chemicals with the highest Middle Eastern import dependency and therefore among the most directly affected by the Hormuz closure in proportional supply impact terms.
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