MEG Market Weekly (Dec 6-10 2010)
| CCF Price | ||||||
| Spot | 6-Dec | 10-Dec | Weekly Average | Trend | ||
| WTI crude futures | 89.4 | 87.8 | 88.5 | → | ||
| Feedstock | Naphtha ($/mt CFR Japan) | 850.3 | 848.0 | 848.1 | → | |
| Ethylene ($/mt CFR NE Asia) | 1169.0 | 1174.0 | 1173.0 | → | ||
| MEG Spot | China domestic (Yuan/mt cash, ex-tank) | 8220.0 | 8170.0 | 8208.0 | → | |
| Import market ($/mt CFR China L/C 90 days) | 1023 | 1033 | 1029.2 | → | ||
| MEG Contract | Sep | Oct | Nov | Dec | ||
| SABIC ($/mt CFR Asia) | 880 | 900 | 1020 | 1160 | ||
| SHELL ($/mt CFR Asia) | 870 | 900 | 1030 | 1160 | ||
| MEGlobal ($/mt CFR Asia) | 870 | 910 | 1030 | 1180 | ||
| Sinopec (Yuan/mt delivered) | Offer | 6600 | 7900 | 9000 | 8500 | |
| Settlement | 6800 | 8900 | 8750 | N/A | ||
| Imports(kt) | August | 560.7 | September | 543.8 | October | 495.1 |
 | ||||||
| Market roundup | ||||||
| MEG market floated in weakness this week. The domestic and import market trends was divergent. The import market was relatively firm and the enquiry for deep sea cargoes was especially active, while the domestic market kept on declining as the traders showed little interest in building stock and polyester plants only took in goods at lower prices. In import market, the highest and lowest traded prices were $1040/mt and $1020/mt, while in China domestic market the prices were 8350yuan/mt and 8100yuan/mt. In early week, the market extended the weak trend with transactions reducing. Most traders were inactive and only a few polyester producers purchased at lower prices. The traded prices fell from 8350yuan/mt to 8200yuan/mt in midweek. The market continued to soften in late week. The deals were discussed at 8150-8200yuan/mt and some deal was concluded at 8100yuan/mt. The import market also floated within small range this week. The talking prices were at $1030-1040/mt in early week. With market sentiment weakening, the talking prices fell to $1020-1025/mt. The buying interest from traders emerged again. The deals were talked at $1030/mt. The market moved sideways with talking prices at $1030-1035/mt, but the buying and selling spread was about $10-15/mt. By the end of the week, the transactions were a little active and the prices moved up. | ||||||
| Inventory | ||||||
| MEG Inventory in East China Ports* (unit:10kt) | ||||||
| Last Week | This Week | |||||
| Zhangjiagang | 25 | 26 | ||||
| Taicang | 7.5 | 7 | ||||
| Jiangyin | 5 | 5 | ||||
| Ningbo | 12 | 12 | ||||
| Total | 49.5 | 50 | ||||
| MEG Inventory | Tank: high | Polyester plant: moderate | ||||
| *statistics available | ||||||
| Forecast | ||||||
| The transactions remained inactive, mainly for deep sea cargoes. The majority are waiting for the central economic conference on December 10 to set the tone for next year's economic development. Coupled with tightened credit, polyester plants showed little buying interest in the short term. In downstream market, the inventory piled up recently, but the operating rate was maintained and demand for MEG was stable. In the short term, the imported goods were more attractive to the polyester plants. | ||||||
转载本网专稿请注明出处“中国纺织网”
编辑：纺织网
「相关报道」
免责声明：浙江网盛生意宝股份有限公司对中国纺织网上刊登之所有信息不声明或保证其内容之正确性或可靠性；您于此接受并承认信赖任何信息所生之风险应自行承担。浙江网