Asian MEG prices fell US$7 a ton CFR China and CFR South East Asia in the third week of June. Mono ethylene glycol prices fell on the week on negative outlook and futures in the first three days of the week but shored up by active buying week-end as traders sought to cover some short positions for H2 June and H1 July.
In US, MEG spot slips on bearishness in Asia while spot supply showed some signs of tightness, but demand to export was not strong enough to significantly impact the market. US spot MEG fell US cent 0.75 per pound FOB USG on the week.
In Europe, MEG spot was flat in stable market while bearishness prevailed amid wait-and-watch buying attitude.
Courtesy: Weekly PriceWatch Report
