MEGlobal seeks $30/tonne increase for June MEG
14 May 2009 11:42 [Source: ICIS news]
SINGAPORE (ICIS news)--Monoethylene glycol (MEG) major MEGlobal has proposed selling its June material up $30/tonne from the previous month in view of the prevailing demand and supply situation, a company official said on Thursday.
The June price of $630/tonne CFR (cost and freight) Asia “reflects the short-term supply and demand situation in the Asian market”, said the official.
Another MEG major, Shell Chemicals, announced its June price as $620/tonne CFR Asia on Monday.
A third major, SABIC, was expected to post its June price soon. Its May price was $650/tonne CFR Asia.
Echo Han of CBI China contributed to this article
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By: Salmon Aidan Lee
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