MEGlobal nominates December MEG ACP up $80/tonne

13 November 2009 04:16  [Source: ICIS news]

SINGAPORE (ICIS news)--Monoethylene glycol (MEG) major MEGlobal has nominated its December Asian Contract Price (ACP) up $80/tonne (€54/tonne) from its November nominations, a company official said on Friday.

The December ACP was nominated at $860/tonne CFR (cost and freight) Asia, with the hikes reflecting the “short term (healthier) supply/demand situation in the Asian market,” the source said.

Anglo Dutch MEG producer, Shell Chemicals, had earlier reported its December nomination at $840/tonne CFR CMP. SABIC, the third major, had not announced its December price at the time of writing of this report and was expected to announce its nomination by next week.

November nominations from all three MEG majors were at a uniform $780/tonne CFR Asia.

($1 = €0.67)

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By: Jeremiah Chan
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