Asian MEG prices inched up US$3 a ton CFR China and CFR South East Asia marker in the first week of May. Mono ethylene glycol prices inched up on incremental demand in China as polyester plants are set to restart. Falling crude and stable ethylene also supported MEG markets.
In China, market fundamental improved in a limited room and fluctuated in a small range that week, but will continue to fluctuate in the coming week as more MEG units will be shut for maintenance.
In US, MEGlobal and Huntsman have reduced their May MEG contract price as supplies were balanced. Spot experienced a slight decrease.
European MEG spot prices were stable week on week, for the fourth week in a row, in a quiet market.
Courtesy: Weekly PriceWatch Report
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