15 March 2012 11:08 [Source: ICIS news]
SINGAPORE (ICIS)--Spot monoethylene glycol (MEG) prices in ?xml:namespace>
Prices were assessed at $980-1,000/tonne (€755-770/tonne) CFR (cost and freight) CMP (
Afternoon deals were fixed at $980-990/tonne CFR CMP, with one cargo with no designated tanks heard done at $975/tonne CFR CMP, market sources said. More than 10,000 tonnes of MEG parcels exchanged hands on Thursday.
While first-tier traders were keen to offload forward cargoes amid bearish sentiment, some second-tier traders were looking to build up their inventories, expecting MEG prices to be supported by high feedstock cost.
A 1.56% fall in
PTA is a co-feedstock of MEG in polyester production.
Spot PTA prices in
Polyesters sales-to-output ratio in
($1 = €0.77)
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