East China MEG prices hit highest since Oct 2021 on supply tightness

Source: Mysteel Sep 17, 2026 16:11

East China MEG spot prices approached Yuan 7,500/tonne on Sept 17, the highest since Oct 2021, on Hormuz-driven supply tightness. OilChem data showed September imports at only 150,000 tonnes, port inventories at 106,000 tonnes, and a spot premium above Yuan 1,000/tonne, supporting prices despite polyester rates near 74%. OilChem expects further upside unless geopolitics ease or imports concentrate; key factors to watch: Hormuz recovery, oil-based throughput, polyester rates.

According to OilChem data, East China MEG spot prices approached Yuan 7,500/tonne on September 17, the highest since October 2021, with the rally that began in August having gained more than 30% at its peak and outperforming all other polyester feedstock markets. China MEG Imports Forecast, 2026 (Unit: '000 tonnes) Source:

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