NewsFlashMEGlobal rolls over Aug MEG ACP
09 July 2007 04:49 [Source: ICIS news]
SINGAPORE (ICIS news)--MEGlobal, the world's largest handler of monoethylene glycol (MEG), has rolled over its Asian contract price (ACP) from July to August at $1,020/tonne CFR (cost and freight) Asia, a company official said on Monday.
The official did not comment on the reason for the rollover, but other company sources noted late last week that spot prices had been rising towards $940/tonne CFR China from $920-930/tonne CFR China earlier in June.
"Supply remains tight, and our customers had been requesting that we send the supply as soon as possible," said one of the sources.
Fellow MEG majors SABIC and Shell Chemicals are expected to post their August ACP later this week. For July, Sabic’s ACP was $1,010/tonne CFR Asia while Shell's price was at $990/tonne.
By: Salmon Aidan Lee
+65 6780 4359
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