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.
In US, MEG spot was down as supply lengthened and May contract prices nominated lower. Demand was steady amid improving supply. Spot MEG was down US cent 0.5 per pound FOB USG during the week.
European MEG spot fell amid uncertainty while feedstock rose. European MEG spot prices decreased Euro30 a ton FCA NWE on the week.
Courtesy: Weekly PriceWatch Report
