Ethylene Glycol:Asia

摘要

Monoethylene glycol on a CFR China basis ended the week at $767/mt Friday, $17/mt higher than last week. The average Platts assessment this week was $771.50/mt CFR China compared with $758.20/mt last week. But MEG fell $10/mt from mid-week when it was assessed at $777/mt CFR China. Downstream demand remains weak as the sales-production ratios for polyester factories hover around 70% in China, and even a factory in Jiangsu was interested in selling its ex-tank cargoes on Tuesday at Yuan 6,500/mt ($774/mt on an import- parity basis). Market participants say buyers in the market this week continued to be Chinese traders, whom they believe are speculating or trying to raise cash flow.