MEG price edges up in China

YarnsandFibers News Bureau 2015-11-18 08:39:21 –

Asian MEG markers were up US$1 a ton CFR China in the first week of November.

In China, offers for nearby-month cargoes were at US$630-635 a ton, and counter offers were at US$625 a ton, with discussions at US$625-630 a ton.

Mono ethylene glycol prices edged up on the week in Asian markets amid stable discussion and modest operating rates at downstream polyester plants.

In US, MEG spot prices remained stable on the week amid tight supply due to turnarounds and a force majeure while exporters turned focus to Europe and Latin America.

The November North American contract price declined US cents 2 to US cents 40 per pound.

In Europe, tight supply pushed prices up Euro50 from last week to Euro850 a ton FCA NWE.

MEG spot in Europe rose on the week on tight fundamentals, as domestic production is yet to recover while November contract price was fully settled at a rollover while DEG price inched down.

Meanwhile, contract price for November was fully settled at Euro825 a ton, rolling over from October.

Courtesy: Weekly PriceWatch Report

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