MEG - Making sense of the US winter storm aftermath

Disruption in the MEG supply has happened before, with the most recent being Hurricane Laura and Delta in the US last year. However, this time it played out significantly different. Fear Of Losing Out (FOLO) became the default mindset for most sellers. Few wanted to be caught in a sold-out position as prices continued to increase. Offers were held back and prices across the globe increased dramatically. In seeking clarity into what happened, we’ve broken down what transpired into sections that will hopefully help us understand why this played out differently, and more importantly, answering the question on where does this leave the rest of the year.