Asian MEG prices gained US$27 a ton CFR China and CFR South East Asia in the last week of November. In China, negotiations edged down during the week.
Mono ethylene glycol prices surged in Asian markets on bullish crude futures and short covering. In China, MEG market walked in weakness opening the week but midweek’s surge in crude oil values saw favorable influence on MEG futures and spot climbed up continuously.
Asian MEG prices rose US$7 a ton CFR China and CFR South East Asia marker in the fourth week of November. In China, negotiations rose from in the initial period of the week, and retreated by the weekend.
Mono ethylene glycol prices rose opening the week on short covering by traders while January MEG futures remained volatile. In China, MEG market moved up initially, and then moved down as market sentiment turned lackluster and on rumors that polyester producers postponed the listing of MEG futures. In East China inventory was seen rising.
Asian MEG prices declined US$17 a ton while CFR China and South East Asia in the third week of November. Mono ethylene glycol prices declined after a surge last week, as traders were heard to be taking profits early in the week, with both Yuan-denominated swaps and US$-denominated spot cargoes traded sharply lower.
On 17th November 2016, MEG futures saw an upper limit up at close, a trend similar to that in the previous week, stimulated by fundamental sentiment that strengthened expectation of an increase in interest rates in the US.
Asian MEG prices surged US$44 a ton CFR China and CFR South East Asia in the second week of November. In China, trading values were up US$20-25 a ton on the week.
Mono ethylene glycol prices jumped in Asian markets on bullish futures amid active trading. Several futures and financial traders were heard buying Yuan-denominated swaps on the futures market to cover short positions for H2 November and taking long positions for H1 December.
In Europe, MEG markets were under pressure from bearish ethylene and ignoring the hike in November contract prices.
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.
