Initial Europe October MEG contract agreed at €806/tonne

08 October 2010 09:31  [Source: ICIS news]

LONDON (ICIS)--An initial European October monoethylene glycol (MEG) contract has been agreed at €806/tonne ($1,119/tonne), up €15/tonne from September, the buyer and seller involved in the deal said on Friday.

The contract was settled on a free delivered (FD) northwest Europe (NWE) basis.

The €15/tonne rise from September was attributed to spot price increases throughout September, caused by tight supply and soaring Asian MEG values.

Rumours of the settlement began circulating in the market on Thursday, and two other buyers involved in contract settlements said that they intended to follow the €806/tonne initial settlement, but had not concluded negotiations.

($1 = €0.72)

For more on MEG visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to
ICIS connect

By: Mark Victory
+44 208 652 3214

AddThis Social Bookmark Button

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.

Printer Friendly