11 June 2010 06:10 [Source: ICIS news]
SINGAPORE (ICIS news)--MEGlobal has nominated its July monoethylene glycol (MEG) Asian Contract Price (ACP) $120/tonne (€99.6/tonne) lower from its June level to remain in line with falling spot values, a company source said on Friday.
“We have decided our July ACP at $840/tonne CFR (cost and freight) ?xml:namespace>
“Downstream demand was expected to remain lull in July,” a regional market source said, adding that Asia MEG prices were under continued downward pressure because of abundant supply and languid demand.
Discussion levels for Asia MEG spot prices fell to around $715-725/tonne CFR CMP (China main port) on Friday morning, $120/tonne down from spot prices assessed at the same time last month, according to global chemical market intelligence service ICIS pricing.
($1 = €0.83)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections