Asian MEG markers, the CFR China was flat in the third week of May but was up on the weekend by US$5 a ton. In China, offers for nearby-month goods were in the range of US$615-620 a ton, and negotiations and trading values were also around that level.
Mono ethylene glycol markets in Asia continued to hover around a low level that week on lack of market direction and stable futures.
In China, futures traders square positions for June on the Huaxicun exchange. Central MEG values changed marginally that week and there was still some demand for low priced goods.
In US, MEG spot was stale amid limited availability while downstream PET demand was strong. June contracts may move lower.
European MEG was stable on lack of direction while demand was reportedly, mixed.
Courtesy: Weekly PriceWatch Report
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