Ethylene Glycol:Asia

摘要

Monoethylene glycol was rangebound this week as it hovered at $806-809/mt CFR China throughout the week. It was up $17/mt, or 2.1%, week on week to end at $809/mt CFR China Friday on the back of strong ethylene feedstock as well as concerns over a possible supply shortage in the market. The average price this week was $807.2 CFR China, $21.20/mt higher than last week. As with previous weeks, downstream demand remains weak as the polyester industry is in the midst of its lull season. The production-sales ratio was heard around and below 70%, and some factories have cut operating rates as electricity has been rationed for high-power consuming industries in China. However, the market was supported by high ethylene feedstock prices.