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Two more December 2016 market updates for Asian MEG

11 November 2016 / MEG Update

The Sabic December contract price was posted at $840/MT and a third producer posted $900/MT CFR. In these two cases there was an increase versus November of +$50 and +$110 respectively, as last month's numbers were $790 for both suppliers.

Spot MEG prices remain high in Asia at levels around $750+ per tonne CFR, with a firming trend. The announcement of the new futures market triggered off a run on MEG and the market saw a steady increase in MEG spot numbers. MEG inventory in China remains low at this time helping firmer prices as is the push from PTA futures.