China is one of the major consumer as well as supplier of MEG in the world. In last one year the domestic consumption has increased that now it is importing MEG form other nations. Till mid of January prices for MEG were booming up the domestic market due to heavy usage in downstream industry. Now as Lunar vacations are approaching many producer of polyester has planned for maintenance schedule of their respective units. The Market is already flooded with MEG supply with bulk inventory, the market forces will now pull the prices due to bulk supply. Experts believe that this condition will temporarily and consumption will increase again in March.
