Asian MEG markers were down US$14 a ton CFR China in the fourth week of March. Sabic nominated its April Asia contract price which was up US$110 a ton from March.
Mono ethylene glycol markets in Asia rolled back the significant gains of previous week early in the week. However, they gained over the last two days of the week, limiting the weekly fall.
Sabic nominated April contract price significantly up from March seeing spot gaining over the past 10 weeks in a row up to the previous week.
In US, MEG prices were steady amid tight supply and demand expected to improve into Q2. Spot MEG rolled over from last week.
European MEG spot was also stable on unchanged imports and amid bullish feedstock. MEG markets will soften in a coming weeks under the pressure from commodity market. However, the overall upward trend is yet to show any substantial change.
Courtesy: Weekly PriceWatch Report
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