Asian MEG prices jumped further US$24 a ton CFR China and CFR South East Asia in the first week of November. In China, trading values surged during the week too.
Mono ethylene glycol spot prices surged again in Asian markets on bullish futures and short covering. During the second half of the week, several futures and financial traders were heard buying Yuan-denominated swaps on the futures market to cover short positions for H2 November and H1 December.
Asian MEG prices surged US$18 a ton CFR China and CFR South East Asia in the last week of October. In China, trading values surged US$10 a ton on the week.
Mono ethylene spot prices in Asia surged week on week to six-month highs as import pricing surged nearly 10% since late September. In China, MEG market fluctuated following an uptrend that week driven by PTA futures initially, and then softened due to sustained drop in crude oil prices. Later MEG market fluctuated upward and rebounded by weekend.
Asian MEG prices surged US$24 a ton CFR China and CFR South East Asia marker in the third week of October. Mono ethylene glycol prices in Asian markets hit a 6-week high on firmer sentiment as CFR China assessment rose steadily throughout the week gaining roughly 6.5% since third week of September.
In China, trading values jumped US$20 a ton on the week. MEG market was under fluctuation influenced by the listing on Dalian Commodity Exchange. There were favorable factors, like rising crude oil and strengthening bulk commodities amid healthy run rates of polyester units.
Asian MEG price rose US$2 a ton CFR China and CFR South East Asia in the second week of October. In China, trading values surged US$10 a ton on the week.
Mono ethylene glycol prices in Asian markets were relatively steady amid stable fundamentals and supply demand seen balanced. There were many favorable factors that week in Asian MEG markets, including significantly rise in crude oil values, reducing inventories, healthy run rates of downstream polyester units and rumours about problems on Shell Singapore’s unit.
Asian MEG price inched up US$5 a ton CFR South East Asia and CFR China in the first week of October. In China, offers for nearby-month goods were at US$635 a ton, against counter offers of US$630 a ton.
Mono ethylene glycol prices inched up day on day since midweek on firmer sentiment led by crude oil markets. Supplies remained tight on lower plant run rates while Shell plans to restart Singapore cracker in few weeks. Taiwan's Nan Ya will shut its No. 2 MEG plant next February for annual maintenance.
Asian MEG was cheaper by US$11 a ton CFR South East Asia marker and CFR China in the third week of September. In China, offers were at US$630-35 a ton, changing marginally in the first half of the week and deals were talked and concluded at US$630 a ton. By weekend, buying interest weakened, and central values fell by US$10 a ton.
Asian MEG markers were down US$18 a ton CFR South East Asia and CFR China in the second week of September. Offers for nearby-month goods were around US$640 a ton, against counter offers of US$630 a ton. MEGlobal nominated contract price for October was up US$20 a ton CFR Asia from September number.
Asian MEG marker fell US$19 a ton CFR South East Asia in the first week of September. In China, spot offers fell US$20 a ton on the week.
Mono ethylene glycol prices retreated sharply in Asian markets giving back most the previous week’s gains on traders' profit-taking and falling futures. Several traders were heard still buying physical cargoes to cover second-half September and some H1 October physical positions.
Asian MEG marker touched 20 weeks high by posting a rise of US$27 a ton CFR China and CFR South East Asia in the last week of August. In China, spot offers moved up US$25 a ton on the week.
Mono ethylene glycol prices surged in Asian markets on higher futures and several futures and financial traders buying Yuan-denominated swaps to cover short H2 September and H1 October positions.
In Europe, MEG prices drifted despite bullishness in Asia. Contract pricing headed for a double settlement for August and was likely to settle along with an initial settlement for September.
Asian MEG marker recovered US$24 a ton CFR China and CFR South East Asia in the last week of August. In China, spot offers increased US$10 a ton during the week. Mono ethylene glycol prices in Asian market declined opening the week, but later recovered day on day to post the fourth weekly gain.
Spot rose on firming futures and short covering by several major traders actively buying physical cargoes, particularly during the latter half of the week, to cover H1 and H2 September swap and physical positions.
