- MEG Down Eur25-27/mt- The bearish market continues



In the week ending March 24, European
glycols markets were under pressure due to fundamentals. There was oversupply
and low demand. Sources
said that a second contract settlement had not been reached for March. Sources say that only the original contract settlement has
been heard. As delayed import material
arrived, the monoethylene glycol market saw an increase in length. This led to
increased supply across Europe. Storage
problems were a consequence. Spot MEG
prices were impacted by the competitive pricing of imported materials. According to market participants, European demand was weak
all week. This was due to weak PET demand. Participants expected little change in the fundamentals,
which was why the market was pessimistic. The
diethylene market, however, saw a more steady demand. The DEG market was still oversupplied, which prompted...