12 June 2012 09:28 [Source: ICIS news]
SINGAPORE (ICIS)--MEGlobal has proposed an Asian Contract Price (ACP) for July monoethylene glycol (MEG) that is $140/tonne (€112/tonne) lower than June levels, according to a document obtained by ICIS on Tuesday.
“The July MEG ACP will be $1,010/tonne CFR (cost & freight) ?xml:namespace>
Bid-offer levels in the Asian spot MEG market declined to $835-840/tonne CFR China Main Port (CMP) on Tuesday, market sources said.
Current prices are down by $160-170/tonne or 16-17% from a month ago, according to ICIS, in line with the steep declines in crude futures amid a flaring up of eurozone’s debt woes.
MEGlobal is a joint venture between Dow Chemical and
($1 = €0.80)
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