Ethylene Glycol:Asia

摘要

Asia monoethylene glycol edged $5 higher Friday to end the week at $716/mt CFR China, riding on stronger crude and fellow polyester feedstock purified terephthalic acid. Discussion levels were heard around $715-720/mt CFR Friday, with deals said concluded under $720/mt CFR — up from 705/mt CFR earlier in the week. Transactions were mainly among traders as end-users maintained their wait-and-see attitude. “Our inventory level is high and there is no need to restock,” said a Chinese polyester maker in Zhejiang. Nonetheless, Chinese MEG plants increased their offers by around Yuan 50/mt ($7.30/mt), citing higher crude oil prices.