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)
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