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Given the rapid changes in prices of polyester feedstock ethylene and paraxylene prices, their respective derivatives reflected similar trends year on year. Asian MEG markets fluctuated widely opening June and prices jumped in line with the ethylene and PTA market. They fell in the third week on short selling and bearish polyester markets as the peak season drew to a close. Prices, however, climbed again June-end on expanding downstream operating rates. Meanwhile, MEGlobal nominated Asian July contract price at a roll over. Asian spot was down 1.5% in June and 4.8% from a year ago.
