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In Asia MEG market will face uncertainty when Chinas week-long holiday ends

October 04/2011

(ICIS) -- The Asian monoethylene glycol (MEG) market will face uncertainty when Chinas week-long holiday ends, as supply will be limited because of plant turnarounds, while demand will be weak as a result of the grim global economic climate, market sources said on Tuesday. Prices of MEG closed at USD 1,230-1,235/tonne (EUR 935-939/tonne) CFR (cost & freight) CMP (China Main Port) on 30 September, down by USD 90-100/tonne from 9 September when prices hit a 44-month high, according to ICIS data. Trading has slowed this week, sources said, as the China market is closed for the National Day holiday from 1-7 October.


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