Saudi's SABIC cuts November MEG ACP by $20/tonne

19 October 2009 10:00  [Source: ICIS news]

SINGAPORE (ICIS news)--Petrochemicals giant Saudi Basic Industries Corp (SABIC) has lowered its nominated price for November monoethylene glycol (MEG) by $20/tonne (€13.4/tonne) from October, a company official said on Monday.

Its nominated price for November Asian contract price (ACP) was $780/tonne CFR (cost and freight) Asia, in line with price cuts announced by two other MEG majors - Shell Chemicals and MEGlobal.

All the three companies had nominated $800/tonne CFR Asia for October ACP.

($1 = €0.67)

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By: Pearl Bantillo
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