Ethylene Glycol Asia

摘要

Asian monoethylene glycol has been weighed down this week by bearish financial markets, especially since Thursday afternoon. The benchmark assessment ended the week at $1,227/mt CFR China Friday, down $18/mt or 1.4% week on week. The weekly average fell $6.35/mt to $1,238.40/mt CFR China from a week earlier. Overall, market sentiment was lackluster throughout the week as buyers adopted a cautious stance, despite more active trading in the purified terephthalic acid market. Market participants noted that MEG trading activity was thin this week. 'Buyers have been unclear and uncertain the entire week," a Japanese trader said. Meanwhile, polyester producers reported a good production-sales ratio, hitting as high as 100% this week, up from 60-80% last week. 'Polyester end-users were following strong PTA futures markets earlier this week," a polyester maker said. PTA futures traded on the Zhengzhou Commodity Exchange were an uptrend week on week.