With new announcement by US President for imposition of 10 % tariffs on additional $300 billion Chinese goods from September 1. This includes all Chinese textile and apparels exported to US that are not subject to tariffs yet, sources said. This escalation has put an additional pressure on MEG market and prices have been neither continuously declining with nor demand from US market. Moreover there has been depreciation in the Chinese currency has weakened the market sentiment further. China domestic prompt MEG prices was assessed at Yuan 4,275/mt Monday (around $506/mt import parity value), down Yuan 200/mt from last Thursday.
