Asian MEG prices declined US$13 a ton CFR China and CFR South East Asia in the second week of April. Mono ethylene glycol prices were down in Asia amid weak market sentiment and shorter week.
In China, most of week saw MEG market in stalemate, mainly because market participants were cautious of mixed news in the market. On weekend, players in short position strengthened once again as the volume of goods arriving in China’s ports expanded significantly.
In Europe, MEG prices fell on the week as goods were readily available amid weak demand. European spot MEG prices were down Euro20 a ton FCA NWE on the week.
In US, MEG price was firm amid thin activity but the 3-week downward skid came to a halt. Buyers were looking at Asia's netback for price while spot pricing was stable from last week.
Courtesy: Weekly PriceWatch Report
