MEG prices are likely to witness an upright in the values in Asian market. Demand for downstream polyester has increased heavily in China. The demand is very high where the MEG supply is curtailed due to ongoing turnaround and maintenance in MEG plants. MEG buying indications for first-half March were at $640-650/tonne CFR (cost & freight) CMP (China Main Port), while offers stood at $655-660/tonne CFR CMP. The imports of MEG have increased by more than 37% by importers in China.
