13 March 2012 06:19 [Source: ICIS news]
SINAGPORE (ICIS)--MEGlobal has lowered its April Asian contract price (ACP) nomination for monoethylene glycol (MEG) by $20/tonne (€15/tonne) from March levels, market source said on Tuesday.
The company announced in a note to clients on the morning of 13 March that its April ACP nomination was at $1,200/tonne CFR (cost & freight) ?xml:namespace>
Asia’s MEG market remained under pressure from full port inventories and soft demand from the downstream polyester industry in
The spot MEG prices declined to $1,055-1,060/tonne CFR China Main Port (CMP) by Tuesday noon, down by $30/tonne from the same period the previous month, according to ICIS.
MEGlobal is a joint venture between the Dow Chemical Company of the
($1 = €0.76)
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