16 August 2011 10:01 [Source: ICIS news]
SINGAPORE (ICIS)--Saudi major SABIC has nominated its September Asian Contract Price (ACP) of monoethylene glycol (MEG) at $50/tonne (€35/tonne) higher than its price in August, a company official said on Tuesday.
The company proposed its September ACP at $1,350/tonne CFR (cost & freight) ?xml:namespace>
Asia MEG spot prices closed at $1,245-1,250/tonne CFR on 15 August, $45/tonne higher compared with four weeks ago, according to data from ICIS.
In addition, another producer, Shell, nominated its September ACP for MEG at $1,360/tonne CFR Asia, $40/tonne higher than its price in August, according to the company.
($1 = €0.69)
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