24 August 2012 21:35 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--US fibre-grade ethylene glycol (EGF) export contract prices were assessed higher for September on Friday as the Asian Contract Price (ACP) rose.
The EGF export contract price is derived from Asian contract prices minus current estimated freight rates.
US prices for September rose by 4.54 cents/lb on the low end of the range and 4.53 cents/lb on the high end.
Contract values for EGF were assessed by ICIS at 48.54-49.44 cents/lb ($1,070-1,090/tonne, €856-872/tonne) for September.
US Gulf (USG) freight rates to Asia this week were ranging around $65-70/tonne for 2,000-tonne loads and about $55-60/tonne on 5,000 tonne or larger. The freight rate used for the EGF EXPO range was $60/tonne.
The ACP for September was assessed at $1,130-1,150/tonne CFR Asia.
Major EG producers in the US include LyondellBasell, Huntsman, MEGlobal, Indorama, SABIC and Shell.
($1 = €0.80)
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