11 September 2008 11:06 [Source: ICIS news]
SINGAPORE (ICIS news)--Middle Eastern monoethylene glycol (MEG) major Saudi Basic Industries Corp (SABIC) has lowered its October nominated Asia Contract Price (ACP) by $150/tonne from last month, said market sources on Thursday.?xml:namespace>
SABIC’s October nomination was pegged at $1,000/tonne on a CFR (cost and freight) Asia basis, said a one of its contract buyers from northeast ?xml:namespace>
SABIC declined to comment when contacted by ICIS news.
For September, nominations from all three MEG majors were at $1,150/tonne CFR Asia.
MEG is used to make polyester fibres and yarns and polyethylene terephthalate (PET) chips.
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