Asian spot MEG inched up US$5 a ton CFR China and CFR South East Asia in the first week of August. In China, offers for nearby-month cargoes rebounded during the week. Mono ethylene glycol prices in Asia were firm amid moderate transactions with buying interest for low-priced goods growing somewhat. However, prices weakened by the end of the week while transaction of forward-month cargoes was moderate.
In Europe, mono-ethylene glycol spot market maintained firm trends similar to other regions amid balanced to tight spot supply. Europe August contract was confirmed at an increase of Euro 25 from July levels.
In US, spot MEG rolled over amid low availability during the week while July contracts was assessed up US cents 2.50 per pound FOB USG as compared to June.
Courtesy: Weekly PriceWatch Report
