Asian MEG markers spurted US$15 a ton CFR China and CFR South East Asia in the last week of February. In China, offers stayed high, and discussions and trading values picked up accordingly.
Post midweek values were hard to rush higher, with numbers weakening US$5-10 a ton. Weekend saw values recovering to the early week levels.
Mono ethylene glycol prices moved up in Asian markets on the week due to continued supply tightness and support from firming ethylene cost. Upcoming plant maintenance are likely to support MEG markets in coming weeks.
European MEG prices rose, tracking Asian numbers while availability was balance to tight amid long DEG. Ineos has planned maintenance at its MEG unit at Antwerp, Belgium, in May. MEG spot price increased Euro10 a ton FCA NEW on the week.
In US, MEG spot was bracing for pressure. Supply will tighten on turnarounds while downstream market was gearing up for the upcoming demand season.
Courtesy: Weekly PriceWatch Report
In May 2020, nylon filament yarn prices were talked up amid climbing prices in the upstream CPL and nylon chip…
In May 2020, polyester filament yarn prices recovered in China supported by higher prices in the polyester staple fibre markets.
Viscose staple fibre prices in April were mostly down in the Asian markets of China, India, and Pakistan. In China,…
Feedstock, propylene prices in Asia fell in April amid historic lows in the crude oil and naphtha markets that month.…
Nylon or polyamide chip markets slumped in March amid weakening prices in the raw material CPL markets while downstream buying…
In March 2020, polyester staple fiber (PSF) prices declined month-on-month in China as demand was weak and supply was abundant.…