02 May 2012 16:08 [Source: ICIS news]
LONDON (ICIS)--An initial European May monoethylene glycol (MEG) contract price of €979/tonne ($744/tonne) has been settled in conjunction with a second agreement of the April price at €1,005/tonne, a seller said on Wednesday.
The April price, on a free delivered (FD) northwest Europe (NWE) basis, reflects a €65/tonne drop from March and was done.
"The May price reflects the weakness in the European MEG market. It also reflects the fact that April wasn't fully settled," the buyer said.
($1 = €0.76)
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