22 October 2012 10:11 [Source: ICIS news]
LONDON (ICIS)--An initial European monoethylene glycol (MEG) October contract has been agreed at €1,095/tonne ($1,422/tonne) FD (free delivered) NWE (northwest ?xml:namespace>
October contract negotiations have been protracted because of a sharp divide between buyers and sellers.
Producers argue that October contract price increases are necessary because of high spot prices in Asia – a key driver of European MEG contract prices – and
Buyers, however, argue that demand is too weak downstream to increase prices.
Contract negotiations are ongoing.
($1 = €0.77)
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