- An increase in Chinese domestic prices as a result of
restocking prior to mid-month- The current East China port inventory levels are at 1.1
million tons



Asian MEG spot prices remained stable on
August.11 despite a slight fall in east China port inventories. However, buying
appetite remained largely tapered for cargoes coming for the second half and
third of September. The
Chinese domestic prices for prompt delivery cargoes increased, and some
restocking took place before the mid-August obligations. Market structure was still in a slight congruence, with
September arrival cargoes seeing a $5-$10/mt premium to prompt arrival cargoes. Market sources indicated that the premium will continue to
narrow as September approaches. Market
participants remained cautious despite falling east China port inventory
levels. They considered current inventory levels at more than 1.1 million tons...