Strait closure slashes May MEG net imports to record low

The continued closure of the Strait of Hormuz through May and June severely disrupted China's MEG supply chain. This resulted in a sharp decline in May imports and pushed net imports to a new historical low.

The continued closure of the Strait of Hormuz through May and June have severed China's monoethylene glycol (MEG) supply routes from the Middle East. The combined effect of collapsing imports and sustained high exports squeezed net imports of MEG down to just 113,000 tonnes. This marks a 52.86% month-on-month