NewsFlashSinopec hikes MEG price for May
25 May 2007 02:51 [Source: ICIS news]
“Demand had been strong, and supply had been tight; spot prices had also been rising,” the official said, explaining the price jump between the two months.
Spot values of MEG had maintained an uptrend in recent weeks, hitting CNY8,900/tonne ex-tank as of Friday. Prices of imported MEG had risen even more sharply, spiking from $900-905/tonne in late April to $970-980/tonne on Friday.
($1=CNY7.65)
By: Salmon Aidan Lee
+65 6780 4359
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