NewsFlashSinopec ups April MEG domestic price
25 April 2007 05:03 [Source: ICIS news]
SINGAPORE (ICIS news)--Chinese petrochemical major Sinopec has finalised its April monoethylene glycol (MEG) price at yuan (CNY) 8,500/tonne ($1,100/tonne) DEL (delivered), CNY200/tonne higher than the previous month, a company official said on Wednesday.
"The price increase is in line with stronger demand and higher spot prices," the official said in Mandarin.
In recent weeks, strong demand from a bullish downstream polyester market had pushed spot MEG prices to CNY8,500-8,600/tonne ex-tank, according to global chemical market intelligence service ICIS pricing.
($1 = CNY 7.73)
By: Salmon Aidan Lee
+65 6780 4359
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