Demand for Monoethylene glycol (MEG) in China remained low as spot prices reached as high levels as RMB 8250-8300 per metric tons.
Traders are under constant pressure to revise their offers.
About 42000 metric ton of MEG was imported at Zhangjiagang Port of Jiangsu province while those at Ningbo City of Zhejiang were pegged at 46000 metric tons in February 2006.
These figures represented a slight drop from January imports.
MEG markets have been bearish for a while now with desperate trader offers sliding to as low levels as $835-840 per metric ton buyer bids even lower at $825 per metric tons.
PetroChina Fushun Petrochemical Company has revised its offers for wholesalers at RMB 8500 per metric ton and for retailers at 8700 per metric tons, a RMB 200 drop from initial offers.
marketing@alchempro.com
