Home / Knowledge / News / Textiles / MEG prices bottom out, recovery in the offing
MEG prices bottom out, recovery in the offing
09
Mar '09
During the first half of the current fortnight, price of MEG went down sharply by US $40 per ton and now is hovering at levels of $430 per ton, the levels it had attained four months back in November 2008. Sellers were under pressure; due to ease in supply situation and cutthroat competition has forced them to cut their prices.

In Asian region, drop in MEG prices was due to the continual and intensive arrival of import cargoes at various ports and it has been reported that China imported 479,700 ton in January 2009, a jump of 100,000 tons compared to arrivals in the previous month of December 2008.

During the first half of the current fortnight, market prices of MEG in European markets stood at €480 per ton, while in the markets of the US it touched $610 per ton. In the Chinese market, prices were assessed down to $430 per ton, with S E Asian market prices of MEG also retaining the same levels.

Earlier, in the beginning of the first half of the current fortnight, MEG prices in the Asian market had witnessed a decline of $10 per ton to close at $460 per ton. The prices of MEG seem to have bottomed out as demand in upstream sectors, slowly showing signs of recovery.

Price of crude oil has also crossed the $45 per barrel psychological barrier and prices of ethylene are also expected to move upwards in tandem with that of crude oil, which in turn is expected to lead the recovery in prices of MEG in the near short term.

Click here to view price trends of March 2009.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search