Low availability forces MEG prices to move up even as demand grows
20 Feb '06
1 min read
Low ethylene feedstock prices as well as declining energy rates, resulted in the lowering of MEG prices in Asian markets, last week.
MEG Asia prices dropped from US $850 to less than $830 per metric ton CFR mark by mid-week.
However, raised crude prices by weekend, did seem to boost buyer interests as prices are expected to recover soon.
Sources reported that since MEGlobal, Sabic and Shell had pegged their March contract prices at US $890 per metric ton CFR mark, buyers are stocking up their requirements.
Though buyers are resisting $830 per metric ton offer, sellers are attempting to push deals to $840 per metric ton level.
Sources also anticipate growth in demand for derivative products like polyester and PET.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
