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DEG prices in Asia fell to their lowest level in nearly one year

August 23/2011

(ICIS) -- Diethylene glycol (DEG) prices in Asia fell to their lowest level in nearly one year, and may continue declining in the weeks ahead, given high inventory at ports amid sluggish demand, industry sources said on Tuesday.

In the week ending 19 August 2011, spot DEG values were assessed at an average of USD 1.170/tonne (EUR 819/tonne) CFR (cost and freight) CMP (China Main Port) - levels last seen on 10 September last year, according to ICIS. DEGТs average prices have fallen 12.5% since the start of the year, ICIS data showed.

Demand from downstream unsaturated polyester resins (UPR) and polyurethane (PU) sectors in China is seasonally weak, with most UPR plants running at just half their capacity, industry sources said.

The measures taken by the Chinese government to cool the property sector have also significantly trimmed demand for UPR and PU this year, said a trader.

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