Asian MEG prices gained US$6 a ton CFR China and CFR South East Asia in the last week of April. Mono ethylene glycol prices tumbled opening the week in Asian markets only to recover later and post a weekly rise as markets stabilized. In China, inventories were slowly consumed supporting domestic prices to rise. Market fundamental improved somewhat that week, while favorable influences were limited.
In Europe, spot MEG prices moved sideways on the week amid limited material inquiries while demand remained soft.
In US, MEG market was balanced on the whole and prices held flat. Barge activity continued to remain stagnant as China net back was too low for US market.
Courtesy: Weekly PriceWatch Report
