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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.

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Asian MEG marker gained US$13 a ton CFR China and CFR South East Asia in the third week of Asia. In China, spot offers were up US$10 a ton during the week. MEGlobal nominated Asian contract price for September, flat from last month.

Mono ethylene glycol prices jumped in Asia on bullish crude, futures and persistent short covering by major traders. Several traders were buying cargoes to cover both H1 and H2 September physical positions. In China, MEG market was pulled up midweek by tight spot supplies and continuous rise in crude oil prices.

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Asian MEG marker rose US$7 a ton CFR China and CFR South East Asia in the second week of August. In China, offers were raised US$8 a ton during the week, and central values followed up as well. However, sellers showed low selling interest.

Mono ethylene glycol prices gained by the late week short-covering activities of major futures traders, as they had oversold when crude was down in past weeks, and were reportedly caught that week by the sudden rebound in crude. In China, MEG prices picked up slightly as tank inventories reduced significantly that week.

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Asian MEG marker edged down US$5 a ton CFR China and CFR South East Asia. Mono ethylene glycol prices slipped in Asian markets on negative outlook and low futures despite seeing some gains weekend. September MEG futures fell on Huaxicun as traders sold H2 August swaps. Shell nominated August MEG Asian contract price flat from July.

In US, MEG contracts rolled over from July to August, typical movements not seen this year while spot prices were assessed up on the week, pushed up upstream cost. US spot MEG prices were up US cent 0.50 per pound on the week.

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Asian MEG prices edged down US$4 a ton CFR China and CFR South East Asia in the last week of July. In China, offers for nearby-month were pegged at US$620-625 a ton, and counter offers were at US$615-620 a ton. Bonded goods and forward-month were US$5 a ton higher over nearby-month goods.

Mono ethylene glycol spot prices and futures declined on profit taking, despite spot cargoes traded up opening the week and peaking on Thursday before retreating by weekend. In China, MEG markets were in fluctuation that week, with domestic and import cargo prices down from previous week.

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Asian MEG prices fell US$10 a ton CFR China and CFR South East Asia in the third week of July. In China, offers for nearby-month goods were pegged stable, and counter offers were steady. Bonded goods and forward-month were US$5 a ton higher over nearby-month goods.

Mono ethylene glycol prices in Asian markets fell on bearish outlook and profit taking. Traders sold H1/H2 August swaps as Futures declined on Huaxicun exchange following a brief respite from falling spot prices.

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Mono ethylene glycol prices were flat in the second week of July after falling weekend on traders' past short-covering. In China, offers were maintained at US$625-630 a ton, and negotiations and trading values stood at US$620-625 a ton. Several major futures traders had in recent weeks been short selling H2 July and some H1 August swaps and that week were seen covering some of their short positions.

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Asian MEG prices fell US$7-12 a ton CFR China and CFR South East Asia in the first week of July. Mono ethylene glycol prices declined in Asian markets on weak demand that week. Downstream, polyethylene terephthalate resin plants in China were heard lowered their operating to 80-85%. China domestic MEG prices also decreased week on week.

In US, weak demand for MEG neutralised tightness as upcoming TAs limited spot availability. Meanwhile, arbitrage to Asia remained difficult. Thus, spot MEG prices were assessed stable.

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Asian MEG prices surged US$14 a ton CFR China and CFR South East Asia in the last week of June. In China, offers inched up and discussions followed up to above US$620 a ton.

Mono ethylene glycol prices jumped in Asian markets driven by active short covering and climbing to 1-month high mid-week. However, prices fell on weekend but cooled off after Brexit vote. In China, the market was under fluctuation before the Brexit referendum result.

In Europe, MEG prices were flat in mute market while contract price remained unsettled as uncertainty prevailed.

Related Keywords: MEG price in China, MEG price in Europe, meg price in US, MEG prices, mono ethylene glycol prices, Polyester prices

Asian MEG prices fell US$7 a ton CFR China and CFR South East Asia in the third week of June. Mono ethylene glycol prices fell on the week on negative outlook and futures in the first three days of the week but shored up by active buying week-end as traders sought to cover some short positions for H2 June and H1 July.

In US, MEG spot slips on bearishness in Asia while spot supply showed some signs of tightness, but demand to export was not strong enough to significantly impact the market. US spot MEG fell US cent 0.75 per pound FOB USG on the week.

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