MEGlobal lowers April MEG ACP nominations by $30/tonne

11 March 2011 03:28  [Source: ICIS news]

SINGAPORE (ICIS)--MEGlobal has proposed its April Asia Contract Price (ACP) nomination for monoethylene glycol (MEG) $30/tonne (€22/tonne) lower from its March price, a company official said on Friday.

“We nominated April ACP at $1,350/tonne CFR (cost & freight) Asia due to our cautious outlook for April market,” the source said.

Asia spot MEG showed signs of softness during the week, with daily prices trending down to $1,230-1,240/tonne CFR CMP (China Main Port) on Thursday close amid ample supply but weak buying sentiment.

The other two MEG majors – SABIC and Shell – were expected to announce their April ACPs early next week, said company sources.

($1 = €0.73)

Please visit the complete ICIS plants and projects database
For more information on MEG, visit
ICIS chemical intelligence

By: Becky Zhang
+65 6780 4359

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

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