21 November 2011 08:04 [Source: ICIS news]
SINGAPORE (ICIS)--Saudi major SABIC has lowered its December Asian Contract Price (ACP) nomination for monoethylene glycol (MEG) by $150/tonne (€111/tonne) from its November level in line with lower spot prices in ?xml:namespace>
“We proposed our December ACP nomination at $1,250/tonne CFR Asia, as we expect [the] market to remain soft next month because of weak demand from the downstream polyester industry and the soft economic environment in
Asia spot MEG prices were assessed at $1,090-1,095/tonne CFR (cost & freight) CMP (
SABIC is the largest MEG producer in the world and exports about 2m-3m tonnes of MEG to
($1 = €0.74)
For more information on MEG, visit ICIS chemical intelligence
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