Asia MEG slumps for third day on bearish market sentiment

摘要

SINGAPORE (ICIS)--Spot monoethylene glycol (MEG) prices in Asia slumped for the third consecutive trading session on Wednesday as the weak Chinese yuan and volatile crude values continued to dampen market sentiment, industry players said. Cargoes to China were sold at below $540/tonne CFR (cost and freight) CMP (China Main Port) levels in the afternoon trade, with discussions for January-arrival cargoes falling to around $540/tonne levels, while February fixtures were concluded at around $550/tonne CFR CMP, market sources said.