MEG price in China market expected to rise in coming months: TexPro

The price showed a considerable increase in Q1 2021. It went from 4,506.67 yuan per mt in January 2021 to 5,594.35 yuan per mt in March 2021, recording a jump of 24.13 per cent. However, it decreased in Q2 (June 2021) to 4,942.67 yuan per mt, dropping by 11.65 per cent over the price in March 2021, according to Fibre2Fashion’s market analysis tool TexPro.

In Q1 2021, MEG price rose due to active trading and rising oil prices. The MEG port inventory also decreased as traders bought it. In Q2 2021, the price decreased owing to declining futures basis and dwindling crude oil prices.

ALCHEMPro News Desk (KD)