Ethylene Glycol Asia

摘要

MEG prices surged Friday, climbing $52/mt week on week to $958/mt CFR China and $961/mt CFR Southeast Asia, tracking bullish MEG futures and boosted by reported shortcovering by various traders of H2 June positions and being long H1 July cargoes. Bullish PTA spot prices added a further boost to MEG spot prices. “It does seem to be an unending series of plant issues across PTA plants from China to Japan,” a trader said. “And with the Sabic PTA plant issue and the producer buying spot cargoes into Yanbu, sentiment for both feedstocks have become very bullish.” Trading had picked up, tracking active and volatile MEG futures. Spot prices traded up through the week, from $943/mt CFR China on Tuesday to $958/mt CFR China by Friday’s close.