Ethylene Glycol:Asia

摘要

Monoethylene glycol on a CFR China basis ended $10/mt higher on the week at $792/mt Friday as buying sentiment was boosted by a slight rebound in crude oil prices late in the week. MEG was earlier weighed down by the dip in crude prices from last week but gained strength between Wednesday and Friday when crude took a slight upswing. Upstream, feedstock ethylene this week crossed the $1,000/mt CFR Northeast Asia mark for the first time since end May. The spread between MEG CFR China and production cost, however, remains lucrative for producers. On Wednesday, a Taiwan end-user bought an ethylene spot cargo at $1,000/mt CFR Northeast Asia and was looking for more cargoes, mainly for monoethylene glycol production.