Shell nominates Asia July MEG $60/tonne higher

11 June 2008 08:37  [Source: ICIS news]

SINGAPORE (ICIS news)--Anglo Dutch monoethylene glycol (MEG) major, Shell Chemicals has raised its July nomination by $60/tonne (€39/tonne) from last month, a company source said on Wednesday.

Shell’s July nomination was pegged at $1,260/tonne CFR (cost and freight) Asia, the source added without revealing a cause for the hike.

The other MEG makers, Saudi Basic Industries Corp (SABIC) and MEGlobal had also nominated their selling ideas for July at $1,260/tonne CFR Asia earlier this week.

For June, nominations from all three MEG majors were at $1,200/tonne CFR Asia.

MEG is used to make polyester fibres and yarns and polyethylene terephthalate (PET) chips.

($1 = €0.65)

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By: Hong Chou Hui
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