MEGlobal raises July ACP for MEG

08 June 2007 03:48  [Source: ICIS news]

SINGAPORE (ICIS news)--Monoethylene glycol (MEG) supplier MEGlobal has hiked its July Asian contract price (ACP) to $1,020/tonne CFR (cost and freight) Asia, up $30/tonne from the previous month, company officials said on Friday.

The company’s ACP for June was $990/tonne CFR Asia.

“Demand is basically stable and supply remains tight,” one of the officials said.

Fellow MEG majors Saudi Basic Industries Corp (SABIC) and Shell Chemicals are expected to post their July ACP either later on Friday or early next week.

By: Salmon Aidan Lee
+65 6780 4359

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