MEG trades steadily within a compressed range
MEG prices in the Indian domestic market have remained tightly rangebound through early January, with only marginal upward movement recorded. The Kandla benchmark closed at Rs 43.50/kg on January 13, reflecting a Rs 0.25/kg increase over the past fortnight. Indian MEG prices have therefore shown stability rather than momentum, with limited day-to-day variation supporting a calm trading environment.
On a short-term basis, the fortnight comparison confirms the small uptick from Rs 43.25/kg around December 30. The month-on-month view shows a slightly firmer tone of Rs 0.50/kg compared with levels near Rs 43/kg in mid-December. Across these near-term anchors, the market narrative is one of consistency. Over the past 30 days, MEG traded between a recent high close to Rs 44.25/kg and a low near Rs 43/kg, keeping volatility compressed and transactions predictable.
Further out, the trend is softer. Three-month comparisons indicate prices are down by Rs 7.25/kg from around Rs 50.75/kg in mid-October, while the six-month view shows a decline of Rs 8/kg from approximately Rs 51.50/kg in mid-July. MEG prices in India are also below year-on-year levels, with current values under those recorded in January last year. Support is identified near Rs 43/kg, while resistance stands around Rs 44.25/kg, framing the current trading band. Indian MEG prices continue to signal consolidation within a narrow domestic range, MEG Prices, Mono Ethylene Glycol, Polyester Feedstock, Chemical Market, Petrochemical Industry, Price Stability, Compressed Range, Market Update, Commodity Trends, Industry News. Read the full verified update on IndianPetrochem.com.