Shell raises Dec MEG ACP nomination by $60/tonne

12 November 2009 10:21  [Source: ICIS news]

SINGAPORE (ICIS news)--Anglo Dutch monoethylene glycol (MEG) major Shell Chemicals has raised its Asian contract price (ACP) nomination for December cargoes by $60/tonne from its November offer, a company source said on Thursday.

Its December ACP was $840/tonne (€563/yonne) CFR (cost and freight) Asia, said the source. Shell nominated $780/tonne CFR Asia for November cargoes.

The higher ACP was in line with stronger spot values that have spiked by over $100/tonne since early October, according to Shell's customers.

The other two MEG majors, MEGlobal and SABIC, have not announced their December prices at the time of writing.

($1 = €0.67)

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By: Jeremiah Chan
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