MEGlobal cuts May MEG ACP nominations by $80/tonne

13 April 2012 11:34  [Source: ICIS news]

SINGAPORE (ICIS)--MEGlobal has lowered its May Asian Contract Price (ACP) nomination for monoethylene glycol (MEG) by $80/tonne (€61/tonne) from April, market sources said on late Friday.

The company announced in a note to clients that its May ACP nomination was at $1,120/tonne CFR (cost & freight) Asia, compared with the April ACP of $1,200/tonne CFR Asia, to reflect the short term supply-and-demand balance.

Asia spot MEG prices closed at $960-970/tonne CFR China Main Port (CMP) on Friday, according to ICIS pricing.

MEGlobal is a joint venture between Dow Chemical and Kuwait’s Petrochemical Industries Co (KPIC).

($1 = €0.76)


By: Judith Wang
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index