MEGlobal rolls over February MEG at $630/t

19 January 2009 08:36  [Source: ICIS news]

SINGAPORE (ICIS news)--Monoethylene glycol (MEG) supplier MEGlobal has rolled over its January nominated price of $630/tonne (€472.50/tonne) for February cargoes, a source from the company said in an email statement on Monday.

"The February 2009 MEGlobal ACP reflects the short term supply/demand situation in the Asian market," the source said.

Earlier, fellow MEG major Shell Chemicals rolled over its price of $610/tonne CFR Asia from January to February.

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

($1 = €0.75)

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By: Hong Chou Hui
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