NewsFlashAsia MEG price up $30/tonne on demand, speculation

24 August 2012 04:02  [Source: ICIS news]

SINGAPORE (ICIS)--Asia monoethylene glycol (MEG) spot prices are up by $30/tonne (€24/tonne) on Friday morning after rising 14-15% in the past month on the back of speculative buying spurred by some plant issues and strong downstream demand, market sources said.

MEG spot prices rose to $1,055-1,060/tonne CFR (cost & freight) China Main Port (CMP) on Friday, following a 4% jump in MEG's electronic trading platform on Huaxicun Commodity Exchange, the sources added.

By: Becky Zhang
+65 6780 4359

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