MEGlobal raises Jan MEG contract by $20/t

18 December 2008 08:44  [Source: ICIS news]

SINGAPORE (ICIS news)--Monoethylene glycol (MEG) supplier MEGlobal has increased its Asia contract price (ACP) for January shipments by $20/tonne (€14/tonne) from the previous month to $630/tonne due to tight supply and firm demand, a company source said on Thursday.

“The [nomination] reflects the current market demand and supply situation,” said the source.

Earlier, fellow MEG major Shell Chemicals rolled over its price of $610/tonne CFR (cost and freight) Asia from December to January, while SABIC lowered its prices to $600/tonne.

($1 = €0.70)

Clytze Yan and Echo Han contributed to this article

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