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MEG prices rise in Indian & Chinese markets last fortnight
11
Apr '14
The prices of monoethylene glycol (MEG) increased in the Indian and Chinese markets in the last fortnight ending March 31, 2014, compared to prices in the previous fortnight ending March 15, while they remained stable in Europe and the US.
 
In Asian markets, MEG prices increased due to higher feedstock price coupled with improved demand from the downstream market.
 
In India, the average price of MEG in the last fortnight was US$ 940/ton, higher by 1.62 percent compared to the average price of $925/ton in the previous fortnight. On April 9, 2014, price was assessed at $945/ton.
 
In China, the average price of MEG in the last fortnight was $935/ton in the last fortnight, up by 1.63 percent compared to the average price of $920/ton in the previous fortnight. 
 
In the Chinese domestic market, selling offers for MEG were in the range of RMB 6,550/ton to RMB 6,600/ton in the first half of the last fortnight. In the second half of the last fortnight, selling offers surged and were quoted in the range of RMB 6,850/ton to RMB 6,900/ton.
 
Asian Contract Price (ACP) for MEG announced by Shell and SABIC for April 2014 was $1120/ton.
 
In Europe, the average price of MEG remained stable at $805/ton in the last fortnight due to mute buying sentiments.
 
In US, average MEG price in the last fortnight was 45.00 cents/pound, same as the average price in the previous fortnight, due to firm energy market.
 

Fibre2fashion News Desk - India


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