29 April 2010 17:24 [Source: ICIS news]
The initial contract settlement was agreed on a free delivered (FD) northwest Europe (NWE) basis.
The buyer attributed the price drop to weakening Asian prices which could potentially result in import cargoes heading to ?xml:namespace>
“I expect MEG [price] will drop in June also,” it added.
The seller had been looking for a rollover based on continued firm demand and short supply in
“[€856/tonne] was the best I could get,” the seller said.
Another customer said it was in favour of a fast settlement and that prolonging the discussions would not necessarily yield a different number.
For more on MEG visit ICIS chemical intelligence ?xml:namespace>
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