MEG prices surged rapidly, driven by rising crude oil prices

After the holiday, MEG prices surged rapidly, driven by rising crude oil prices. Although prices have recently retreated slightly, they remain at a high level for the year. In contrast, the coal market experienced a downturn, as colder weather during the National Day holiday led to a drop in electricity consumption across many regions, resulting in sluggish market activity. Some traders began lowering prices to clear inventory, pushing coal prices into a downward trend. The decline in coal costs, combined with the firmness of MEG prices, has driven syngas-based margins back to their highest level this year.