Asian MEG Stable during Public Holidays in China■ A mixed price outlook due to low demand and rising costs■ Crude oil prices have risen by $3.8/b





Imports of Asian mono ethylene glycol were
stable while China was closed for Dragon Boat Festival. August ICE Brent crude oil
prices increased $3.8-4.50/b to $117.02-130.25/b at 0830 GMT Asian Time on June
3. The September 2022 active-traded MEG
Futures on Dalian Commodity Exchange were stable to Yuan 5,072-5,200/mt Extank. Producers said that Asian MEG margins were not competitive. According to the trader, rising costs and weak demand are
the main reasons for the mixed price outlook. Suppliers were bullish that oil prices would cause prices to
rise. Traders forecasted that production
cuts would continue until margins improve. Sources claimed that MEG supply was not sufficient to meet
downstream demand in the textile...