18 March 2011 04:54 [Source: ICIS news]
SINGAPORE (ICIS)--SABIC has nominated its Asia Contract Prices (ACP) for April monoethylene glycol (MEG) at $1,400/tonne (€994/tonne), unchanged from its March level, a company official said on Friday.
“After many rounds of discussion, we decided to roll over our April ACP at $1,400/tonne CFR (cost and freight) ?xml:namespace>
“The nomination is too high compared with current spot prices,” a Zhejiang-based polyester maker said.
The other two MEG majors – MEGlobal and Shell Chemical – had earlier announced their April MEG ACP nominations at $1,350/tonne CFR Asia and $1,400/tonne CFR Asia, respectively.
($1 = €0.71)
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