19 March 2012 02:45 [Source: ICIS news]
SINGAPORE (ICIS)--Saudi major SABIC has cut its April monoethylene glycol (MEG) Asian Contract Price (ACP) nomination by $50/tonne (€38/tonne) from March levels, citing prevailing weak demand and soft spot prices, a company source said on Monday.
It nominated its April MEG ACP at $1,200/tonne CFR (cost & freight) ?xml:namespace>
Spot MEG prices slipped by $49-59/tonne week on week to $1,016-1,028/tonne CFR CMP (
MEGlobal has also lowered its April ACP nomination by $20/tonne from March levels to $1,200/tonne CFR Asia.
Additional reporting by Becky Zhang
($1 = €0.76)
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