Asian MEG marker edged down US$5 a ton CFR China and CFR South East Asia. Mono ethylene glycol prices slipped in Asian markets on negative outlook and low futures despite seeing some gains weekend. September MEG futures fell on Huaxicun as traders sold H2 August swaps. Shell nominated August MEG Asian contract price flat from July.
In US, MEG contracts rolled over from July to August, typical movements not seen this year while spot prices were assessed up on the week, pushed up upstream cost. US spot MEG prices were up US cent 0.50 per pound on the week.
European MEG spot fell on the week amid bearish signals from a lower initial contract settlement and weakening Asian numbers. European MEG truck prices fell Euro20 a ton FCA NEW on the week.
Courtesy: Weekly PriceWatch Report
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