MEG prices increase in Asian markets last fortnight

21 Dec '13

2 min read

In Asian markets, the prices of monoethylene glycol (MEG) increased in the fortnight ending December 15, 2013, due to improved buying sentiments in the region coupled with bullish feedstock prices.

However, they remained stable in Europe due to mute buying sentiment. MEG prices also kept unchanged in the US market due to steadiness in feedstock prices in the last fortnight.

In S E Asia, the average MEG price in the fortnight ending December 15 was US$ 1060/ton, which was a 5.36 percent decrease compared to the average price of US$ 1120/ton in the corresponding period of last year. However, the price increased by 2.42 percent compared to the average price of US$ 1035/ton in the fortnight ending November 30, 2013.

In the Indian market, average price of MEG increased by 3.41 percent to US$ 1060/ton in the last fortnight, compared to the average price of US$ 1025/ton in the previous fortnight. However, price declined again and was assessed at US$ 1035/ton on December 21, 2013.

In the Chinese market, average MEG price in the fortnight ending December 15 was US$ 1055/ton, registering an increase of 3.94 percent compared to the average price of US$ 1015/ton in the previous fortnight.

In European market, the average MEG price in the last fortnight was US$ 1195/ton, same as the average price recorded in the previous fortnight. Similarly, average MEG price remained steady at 47.00 cents/pound in the last fortnight.

Fibre2fashion News Desk - India

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