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

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