13 May 2010 08:45 [Source: ICIS news]
SINGAPORE (ICIS news)--SABIC has lowered its June Asia Contract Price (ACP) nomination for monoethylene glycol (MEG) by $80/tonne (€63/tonne) from its May level, a company source said on Thursday.
"We proposed our June ACP at $970/tonne CFR (cost and freight) ?xml:namespace>
A Chinese trader said: “The contract price is still far beyond current spot levels.”
Asia MEG prices remained on a downtrend this week amid bearish sentiment due to mounting inventories and the poor macro economic environment in the key
($1 = €0.79)
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