MEG price drops in Asia while rolls over in US and Europe

In the third week of September, Asian MEG prices gave back US$14 a ton both CFR China and Southeast Asia. In China, offers for nearby-month cargoes were at US$705-710 a ton, with counter offers at US$700 a ton, and deals were talks concluded at US$705 a ton.

Mono ethylene glycol prices in Asian markets declined on the week, hit by weak market sentiment amid bearish futures market in China and rising local supplies. Overall demand was weaker although downstream polyester demand was still strong.

In US, MEG spot tracked Asia declines and despite start of planned turnarounds which made supply tighter. However, demand was slow to steady. Spot prices were down US cent 1 per pound FOB USG on the week.

In Europe, MEG spot price was flat in quiet market amid solid supply. Feedstock ethylene prices also fell, easing cost support.

Courtesy: Weekly PriceWatch Report

Recent Posts

Nylon or polyamide markets move up amid modest demand

In May 2020, nylon filament yarn prices were talked up amid climbing prices in the upstream CPL and nylon chip…

4 years ago

Polyester fiber, yarn prices firmer amid a rebound in PTA and MEG markets

In May 2020, polyester filament yarn prices recovered in China supported by higher prices in the polyester staple fibre markets.

4 years ago

Viscose or rayon markets continue to weaken in Asia

Viscose staple fibre prices in April were mostly down in the Asian markets of China, India, and Pakistan. In China,…

4 years ago

Acrylic fiber prices slip amid low acrylonitrile and propylene costs

Feedstock, propylene prices in Asia fell in April amid historic lows in the crude oil and naphtha markets that month.…

4 years ago

Nylon or polyamide markets slump on lackluster sentiment

Nylon or polyamide chip markets slumped in March amid weakening prices in the raw material CPL markets while downstream buying…

5 years ago

Polyester prices nosedive to multi-year lows across the world

In March 2020, polyester staple fiber (PSF) prices declined month-on-month in China as demand was weak and supply was abundant.…

5 years ago