MEGlobal’s August MEG ACP nomination rolls over at $840/tonne

13 July 2010 15:08  [Source: ICIS news]

SINGAPORE (ICIS news)--MEGlobal has nominated its August monoethylene glycol (MEG) Asian Contract Price (ACP) at $840/tonne (€664/tonne), a rollover from its July nomination, a company source said on Tuesday.

Last week, SABIC and Shell Chemicals, the other two MEG majors in Asia, proposed August ACP nominations of $850/tonne CFR Asia and $820/tonne CFR Asia, respectively.

Asia MEG prices have remained stable at around $700-720/tonne CFR (cost & freight) CMP (China Main Port) for five straight weeks, underpinned by healthy polyester sales in the key China market, as assessed by ICIS.

($1 = €0.79)

For more on monoethylene glycol visit ICIS chemical intelligence
Read John Richardson and Malini Hariharan’s Asian Chemical Connections blog
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By: Becky Zhang
+65 6780 4359

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