Ethylene Glycol Asia

摘要

Asian monoethylene glycol continued to slide this week, falling $13/mt week on week to be assessed at $968/mt CFR China and $971/mt CFR Southeast Asia on Friday. Traders were trying to clear their stocks of prompt arrival cargoes by selling them down, while some were even short-selling cargoes for first-half October, said market sources. Sentiment had been persistently negative amid a sluggish downstream polyester market, with sales to production ratios of polyester filament and chips heard at around 65%. Cargoes for arrival and loading in secondhalf September were heard traded down progressively from $983-972/mt up to mid-week, before falling further on Friday to $970/mt. Meanwhile, traders were heard to be short-selling first-half October cargoes, with deals heard on Friday for 1,000-mt parcels of Asian origin at $967/mt and $968/mt CFR China.