NewsFlashInitial June Europe MEG contract at €820

24 May 2007 14:40  [Source: ICIS news]

LONDON (ICIS news)--The first June mono ethylene glycol (MEG) contract has been agreed at €820/tonne ($1,108/tonne), a consumer and producer said on Thursday.

The settlement, done on an FD (free delivered) NWE (northwest European) basis meant a €10/tonne hike from the May contract, which was agreed at €810/tonne FD NWE.

At this stage, it was unclear if other players in the market would follow the number.

One separate consumer said that €820/tonne FD NWE was a good number for buyers, adding that some suppliers had been targeting larger hikes.

($1=€0.74)

By: Edward Cox
+44 20 8652 3214

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