MEG price edges up amid growing buying interest in Asia

Asian spot MEG inched up US$5 a ton CFR China and CFR South East Asia in the first week of August. In China, offers for nearby-month cargoes rebounded during the week. Mono ethylene glycol prices in Asia were firm amid moderate transactions with buying interest for low-priced goods growing somewhat. However, prices weakened by the end of the week while transaction of forward-month cargoes was moderate.

In Europe, mono-ethylene glycol spot market maintained firm trends similar to other regions amid balanced to tight spot supply. Europe August contract was confirmed at an increase of Euro 25 from July levels.

In US, spot MEG rolled over amid low availability during the week while July contracts was assessed up US cents 2.50 per pound FOB USG as compared to June.

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,…

5 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.…

5 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