MEG price jumps in Asian market

YarnsandFibers News Bureau 2016-01-13 09:18:56 –

Asian MEG markers, the CFR China and CFR South East Asia rose US$30 a ton in the last week of December 2015.

In China, offers surged to US$615 a ton, and discussions and trading values followed up to US$610-615 a ton.

Mono ethylene glycol prices jumped on the week in Asian markets after market sentiment weakened gradually last week.

Prices climbed up in early week as players in short-position replenished goods at the end of December.

In China, spot values were boosted early in the week but after midweek, buying interest started softening, and central values were pegged at slightly lower level.

However, January deliveries were priced higher than spots that week. Since the New Year holidays were near, the offtake tapered marginally.

Prices in Europe and US generally rolled over in a quiet market conditions.

Courtesy: Weekly PriceWatch Report

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