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MEG prices march higher in Asia on Wednesday

Petrochemical industry | 14 Jan 2021 08:30 IST | Polymerupdate.com

On Wednesday, firmer upstream energy values and stronger regional demand trends pushed MEG prices sharply higher in Asia. A sharp rise in MEG contract price nomination for the month of February, further supported the price gain.

CFR China prices of MEG were assessed at the USD 585-590/mt levels, a sharp rise of USD 20/mt from Tuesday's assessed levels.

In the contract markets, MEGlobal has nominated its MEG contract price for February 2021 at the USD 740/mt CFR Asia levels. This nomination represents a steep rise of USD 70/mt from its January levels."

Meanwhile, feedstock ethylene prices on Wednesday were assessed steady at the USD 1055-1060/mt CFR North East Asia levels.
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