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June 13th China MEG Market Daily Retrospect

 

1. MEG Prices in the Major Domestic Market

 

Product
E-China Market (Yuan/mt)
S-China Market (Yuan/mt)
International Market ($/mt)
Price
Markup
Price
Markup
Price
Markup
MEG
6250
-75
6700-6800
-100
825
-7.5

 
2. Domestic MEG Market Report
 
Today MEG prices in the Zhangjiagang market stayed steady overall. MEG offers and inquiries were at Yuan 6,300/mt and Yuan 6,200/mt respectively with prevailing discussions hovering around Yuan 6,250/mt. Offers for shipments were at $830/mt with major discussions around $ 820-825/mt. The MEG market in South China was soft amid slack inquiries.
 
3. Domestic MEG Market Forecast
 
At present, market players were taking wait-and-see attitudes to macroeconomic fundamentals. In the afternoon, PTA prices for futures improved, which calmed down the insiders in the PET feedstock market. However, the demand from textile industry at home and abroad was weak. So it was estimated the MEG market would fluctuate slightly in the short run and MEG players should operate cautiously until the external environment became steady.

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