10 August 2010 06:08 [Source: ICIS news]
SINGAPORE (ICIS)--MEGlobal has nominated its September 2010 Asian Contract Price (ACP) for monoethylene glycol (MEG) at $870/tonne (€661/tonne), up by $30/tonne from its August nomination, a company official said on Tuesday.
“Our September MEG ACP … reflects the short term supply and demand situation in the Asian market,” said the source.
The price is on a cost and freight (CFR) ?xml:namespace>
MEG prices in China spiked $70/tonne or nearly 10% in the past month to $875-880/tonne CFR China Main Port (CMP) on Tuesday morning, based on ICIS data, driven by strong crude prices and speculative trading.
($1 = €0.76)
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|