Asian spot MEG regained US$22 a ton CFR China and CFR South East Asia in the last week of June. In China, offers for nearby-month cargoes were up US$25 a ton on the week.
Mono ethylene glycol prices moved up early in the week in Asian markets but weakened after midweek and started to fluctuate in a narrow range as trading sentiment was good in early week, and stagnated in the second half. Transaction for August deliveries was thin, and prices were lower than spot values.
In Europe, MEG bulk spot range was narrow and truck prices stable-to-soft. There was a mixed view on supply and demand dynamics as some see supply limited in the third quarter. Meanwhile July contract was agreed down from June levels.
In US, contract prices decreased in May and rolled over in June, taking direction from price trends in the Asian market.
Courtesy: Weekly PriceWatch Report
