25 March 2013 21:43 [Source: ICIS news]
SAN ANTONIO (ICIS)--Spot prices for US ethylene glycol anti-freeze (EGAF) fell in the past week amid downward pricing pressure from Asia, a market source said on Monday on the sidelines of the International Petrochemical Conference (IPC).
Today, EGAF spot prices are in the mid-40s cents/lb (high-$800s/tonne, high-€600s/tonne) range FOB (free on board) barges, said the source.
Before it declined, EGAF spot prices were around 52-53 cents/lb FOB barges, as assessed by ICIS.
Demand has also been poor, the source noted.
In Asia, MEG prices fell further today as prices in MEG's forward trading on the Huaxicun Commodity Exchange in China fell by over 3%. In the late afternoon, three April shipments of MEG in Asia were sealed at $990-995/tonne CFR (cost & freight) China Main Port, as assessed by ICIS.
Major EG producers in the US include LyondellBasell, Huntsman, MEGlobal, Indorama, SABIC and Shell.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.
($1 = €0.77)
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