Asian MEG prices rose US$4 a ton CFR China and CFR South East Asia in the second week of June.
As crude oil prices firmed up early in the week mono ethylene glycol prices in Asian markets were lifted in most actively traded August MEG futures.
Several traders were heard to be short-covering H2 June and July physical positions and picking up some H2 July cargoes. In China, MEG market saw tolerable buying interests for low-priced goods although the market was lackluster due to holidays.
Asian MEG prices rose US$7 a ton CFR China and CFR South East Asia in the first week of June.
In China, offers were generally in the range of US$605‐610 a ton while physical spot cargoes were traded at US$603 a ton CFR China from week’s open to US$608-611 a ton.
Mono ethylene glycol prices partially regained previous week’s loss in Asian markets on firm futures and traders' short-covering.
Markets were also buoyed by the late week buying interest as well as other large Chinese futures traders covering their positions.
Asian MEG prices fell US$17 a ton CFR China and CFR South East Asia in the last week of May.
Mono ethylene glycol prices in Asian markets continued the downtrend, falling on the week due to negative outlook, falling July futures on Huaxicun and massive sell-offs in H1, H2 June swaps.
In China, MEG market was range bound at low levels that week, with average price down from previous week.
In Europe, MEG prices were stable despite Shell outage giving mixed sentiment from production and fall in Asian markets.
Asian MEG markers, the CFR China was flat in the third week of May but was up on the weekend by US$5 a ton. In China, offers for nearby-month goods were in the range of US$615-620 a ton, and negotiations and trading values were also around that level.
Mono ethylene glycol markets in Asia continued to hover around a low level that week on lack of market direction and stable futures.
In China, futures traders square positions for June on the Huaxicun exchange. Central MEG values changed marginally that week and there was still some demand for low priced goods.
Asian MEG markers declined US$15 a ton CFR China while CFR South East Asia in the second week of May. Mono ethylene glycol prices were range bound at low levels that week, with prices down from previous week.
Despite the rally in crude oil, PTA futures softened and MEG prices generally went ranged bound following the slump opening the week.
Reports were heard of aggressive selling of swaps by several large futures traders on the Huaxicun Commodity Exchange, as well as selling of physical cargoes through the week.
Mono ethylene glycol prices declined in Asian and US markets while they were flat in Europe in the first week of May.
Asian MEG markers declined US$18 a ton the CFR China and CFR South East Asia in the first week of May. In China, central offers dropped gradually during the week.
In Asia, MEG market weakened somewhat and downstream polyester makers resisted to replenish raw material, as there were signs of commodities and crude oil to retreat.
The most actively traded June MEG futures contract on the Huaxicun Commodity Exchange fell from Monday to Friday.
Asian MEG markers fell US$18 a ton CFR China and CFR South East Asia in the last week of April.
Mono ethylene glycol spot prices declined in Asian markets following aggressive selling of Yuan denominated swaps on the Huaxicun Commodity Exchange, which pressurized both physical forward and prompt prices.
In China, as commodity market swung significantly and demand for additional polyester saw end in late April, MEG market were less brisk, with prices falling.
Asian MEG markers were up US$5 a ton CFR China and CFR South East Asia in the third week of April. In China, central values surged US$30 a ton amid moderate buying interest.
Mono ethylene glycol prices in Asian markets were up on week on firmer crude and despite a day-on-day decline on Friday while downstream PET run rates were healthy.
In China, MEG market continued to rebound that week. However, the upward momentum was cut down significantly, as oil-producing countries did not reach a consensus on output freeze.
Sinopec's April MEG contract price was however, down from March.
Asian MEG markers were up US$5 a ton CFR China and CFR South East Asia in the second week of April.
Mono ethylene glycol prices declined sharply opening the week but regained later on higher futures, rising crude and emerging demand.
Prices would have been higher if not for some late-week short positions taken by several Chinese futures traders, reports said. Saudi Kayan Petrochemical completed the maintenance of its MEG unit, thus resuming supplies.
Asian MEG markers declined US$39 a ton CFR China and CFR South East Asia in the first week of April.
Mono ethylene glycol prices in Asian markets fell throughout the week on aggressive selling and weak June futures. Bearish sentiment drove bids lower on weekend.
In China, MEG market retreated significantly as sales/production in downstream polyester was mute during the Tomb-sweeping Day holiday.
