Ethylene Glycol Asia

摘要

The CFR China monoethylene glycol marker tumbled $51/mt week on week to $1,137/mt Friday, while the CFR Southeast Asia marker tumbled $51/mt over the same period to $1,135/mt. The China domestic price was assessed down Yuan 240/mt week on week to Yuan 8,600/mt ($1,109/ mt), with deals heard around that level. High inventory in East China sparked a selling frenzy of prompt cargoes this week. On Thursday, MEG prices fell $29/mt day on day to be assessed at $1,139/mt CFR China. On Friday, bids were heard at $1,130- 1,135/mt CFR China against offers at $1,140-1,145/mt CFR China. Inventory levels in East China were heard around 900,000 mt and sources said there was no tank space for arriving cargoes. As a result, sellers were heard frantically looking for buyers for their prompt cargoes.