MEGlobal lowers May MEG ACP nomination by $20/tonne

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.

By: Becky Zhang
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly