12 April 2013 05:43 [Source: ICIS news]
SINGAPORE (ICIS) – MEGlobal proposed its May Asian Contract Price (ACP) nomination for monoethylene glycol (MEG) at $20/tonne lower from its April nomination, according to a company document obtained by ICIS on Friday.
“The May MEG ACP nomination will be $1,190/tonne (€904/tonne) CFR (cost & freight) Asia, to reflect the short-term supply and demand situation,” MEGlobal said in a note to clients.
The price cut came after a $100/tonne reduction for April MEG ACP nomination.
Spot MEG prices in Asia were assessed at $983-994/tonne CFR CMP (China Main Port) for the week ended 5 April, down by $56-58/tonne from a month ago, according to ICIS.
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