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China's MEG falls to 16-month low on abundant spot availability

Author: CCFGroup.com     Time: Nov 7 2018 1:41PM

China domestic MEG fell to the lowest price since late June 2017. Discussions of prompt materials fell to 6,450-6,470yuan/mt on November 6, and contracts in Huaxicun Commodity Contracts Exchange touched the limit down. Traders remained cautious as MEG inventory continued increasing. In addition, traders were inactive to buy due to ample spot availability, and polyester plants mainly took contract supply. This also weighed on the market. ...
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