12 May 2010 09:51 [Source: ICIS news]
“We set our June ACP at $960/tonne CFR (cost and freight)
Supply was expected to remain abundant in June, but demand was expected to shrink as the traditional peak production season for polyester yarn ended in late May, a regional trader said.
Asia MEG spot prices, hence, were under downward pressure. Spot prices fell $105-110/tonne month-on-month to $830-840/tonne CFR China Main Port (CMP) on Wednesday amid bearish sentiment, according to global chemical market intelligence service ICIS pricing.
On 11 May, MEG major Shell Chemical announced its June ACP at $970/tonne CFR
($1 = €0.79)
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