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Textiles

MEG plant closures do not affect markets

13 Mar '06
1 min read
Demand in downstream polyester markets continued to remain slow with experts predicting a sluggish March.

The announcement by several major Monoethylene glycol (MEG) producers to shut down their plants has had no effect on the downtrend in the sector.

EQUATE, one of the leading manufacturer, has decided to close down its 350 kilo tons per annum ethylene glycol unit for about a month.

Taiwan's Nan Ya, the 2nd largest MEG producer in Mailiao, is planning shutdown of its 438 Kilo tons per year unit for about 21 days.

MEG prices are also being affected by slow demand.

While contract prices for April stand at about US $850 per metric ton CFR mark, spot prices stand below $800 per metric ton level.

Sources believe that April will see better trade, but prices will not be affected as much.

Trader offers are expected to remain at about $750 per metric ton this month, sources view.

More Textiles News - Asia...

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