Related Keywords: China domestic market, Continued demand growth, downstream polyester market, firming crude oil value, increase supply in China, low MEG inventory, may limit gain, PET sector, polyester plant, push MEG spot prices in Asia uptrend
Continued demand growth from the downstream polyester market and firming crude oil values likely to push the monoethylene glycol (MEG) spot prices in Asia on uptrend but the increased supply in China by the end of the month may limit the gain, industry sources said on Thursday.
On 15 April, MEG prices registered a cumulative average gain of 9pc since the start of the month at $910-912/tonne CFR (cost and freight) China Main Port (CMP), according to ICIS data.
