The Price Review of MEG in Asia in Last Week
Author: Feb 14, 2011 16:47
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Last week, the Chinese traders come back to market successively, and the profit of MEG market in Asia is fat. The China benchmark price of CFR rose 74 USD per ton, and the price of last Friday is 1275 USD per ton. Influenced by the dramatically rise of PTA futures market price, the MEG purchase intention of buyers is increasing and the MEG price is increased greatly.
The Chinese traders returned to market on last Wednesday, but the business negotiate is scarce and the market direction is not clear. Further more, the Central Bank increased interest on deposit for 25 point and annul deposit interest rate reach 6.06%. The MEG boned goods resale price is 1260-1265 USD per ton, and the spot goods price on Feb is told 1260 USD per ton (CFR China). The seller hope the price rose to 1300 yuan per ton, but is quite difficult. Last Friday, most traction price is from 1270-1275 USD per ton (CFR China) and the seller offer is 1280 USD per ton (CFR China). The market positivity is limited, and the downstream factories still doesn't restart the equipments after Spring Festival. The polyester factories declared the supply of goods since the middle of this week, but the purchase interest was not obvious. Their average sales proportion is 70% of production capacity, and it is told the purchase atmosphere is active.
The equipment dynamic: The Sinopec Zhenhai corp. stopped its MEG equipments which produce 550 thousand tons per year and prepared for repairing for one week.
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Editor: leila From: 168Tex.com
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