Textiles

High inventories and low demand pull down MEG contract price

08 Jun '05

1 min read

A steep decline in the first European contract for Mono Ethylene Glycol price of EUR 232 per ton brought down the prices to EUR 710 per ton.

Market sources said companies carried heavy inventories and further, lower demand casued the slide in MEG prices.

Spot rates also registered a sharp 15 percent drop since April 2005. The prices hovered around EUR 610-630 per ton.

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