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Asian MEG trends down last week from hectic selling
29
Sep '14
Asian Monoethylene Glycol (MEG) prices were down last week ending Sept 26 from its previous week ending Sept 19, due to lower feedstock prices coupled with hectic selling activity in the region.

In India, average MEG prices went down by US$ 35/ton or 3.74 percent last week to US$ 900/ton, as compared to US$ 935/ton in its previous week.

In China, average prices declined by US$ 55/ton or 5.85 percent to US$ 885/ton last week from US$ 940/ton in its previous week.

In the past week, several major producers announced their nominations for October Asian MEG contract price.

SABIC has nominated Asian MEG at US$ 1120/ton CFR Asia, lower by US$ 30/ton as compared to the nomination level of September.

Shell nominated at US$ 1100/ton CFR Asia, a decline of US$ 60/ton from September.

MEGlobal has nominated at US$ 1120/ton CFR Asia, down by US$ 60/ton from September levels.

Sinopec nominated at RMB 6900/ton, a fall of RMB 500/ton against the nomination level of September.

Fibre2fashion News Desk - India

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