15 December 2009 03:50 [Source: ICIS news]
SINGAPORE (ICIS news)--Monoethylene glycol (MEG) major MEGlobal has nominated its January 2010 Asian Contract Price (ACP) up $80/tonne (€54/tonne) from its December nominations, a company official said on Tuesday.
“We have nominated our January ACP at $940/tonne CFR (cost and freight) ?xml:namespace>
Anglo Dutch MEG producer, Shell Chemicals, had earlier reported its January nomination at $920/tonne
Market sources pointed out that the higher nominations were in tandem with the recent uptrend in spot MEG prices in China, which have risen $85/tonne, or over 10%, over the past month to $855-860/tonne CFR China Main Port (CMP) at Monday’s close, according to global chemical intelligence service, ICIS pricing.
December nominations from all three MEG majors were at $840-860/tonne CFR Asia.
($1 = €0.68)
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