11 December 2012 08:47 [Source: ICIS news]
SINGAPORE (ICIS)--MEGlobal has raised its January Asian Contract Price (ACP) for monoethylene glycol (MEG) by $40/tonne (€31/tonne) from its December nomination, according to a document obtained by ICIS on Tuesday.
“The January MEG ACP will be $1,240/tonne CFR (cost & freight) Asia, to reflect the short-term supply and demand situation,” MEGlobal said in a note to clients.
Asia’s spot MEG prices rose to $1,095-1,105/tonne CFR China Main Port (CMP) on Tuesday, up by $54-55/tonne from the previous month, according to ICIS.
MEGlobal is a joint venture between Dow Chemical and Kuwait’s Petrochemical Industries Co (KPIC).
($1 = €0.77)
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