NewsFlashAsia MEG falls $20/t to 15-week low as inventory piles up

13 March 2012 08:09  [Source: ICIS news]

SINGAPORE (ICIS)--Monoethylene glycol (MEG) prices in Asia fell $20/tonne to a 15-week low of $1,045/tonne on Tuesday as traders rush to sell cargoes amid a steady increase in inventory of the product, market sources said.

Chinese ports are currently full, with MEG inventory nearing 800,000 tonnes, they said.

Major tank holders in eastern China have urged traders to offload some volumes to free up space for the incoming cargoes, market sources said.

By: Becky Zhang
+65 6780 4359

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