There has been significant rise in MEG values in US market in back of firmness in Asian market. The hike has been seventeen month high. Values were assessed in the range of USD 825-850/MTS. Export availability for the month of January appears limited at best after drying up quickly in December, sources said. Chinese MEG were assessed in the range of $895-900/mt CFR China, up $28/mt since the previous The recent hike has been due to rise crude pricing as well as low inventory levels in China have supported stronger pricing in the region in recent weeks and in turn pushed US pricing higher, a US-based distributor
Strength in the Asian monoethylene glycol market has provided an upward push to help US spot pricing to its highest level in nearly a year and a half even with limited material available in the region.
