Moderation of MEG prices likely in India; Demand to escalate further – 18 Dec 2014

MEG price is likely to come down in the coming days in Indian markets due to the twin effects of availability of huge inventories with traders and declining import booking price. Demand for the Ethylene derivative is currently active in the country's markets on account of constant off-takes by end-users, and the demand is expected to activate substantially if the price decline from the prevailing rates.

Indian Oil Corporation Limited has recently lowered its MEG price by Rs 2.1 a kg to Rs 71.4 a kg, after restarting its idled plant for maintenance. While, Reliance Industries Limited kept its price unchanged at Rs 69-70 a kg.

A prominent trader in the Ahmedabad market told the website that he expected the price to move down to around Rs 67-68 a kg.

Prices of imported MEG are currently at around Rs 69-70 a kg.
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