MEGlobal hikes August MEG ACP nomination by $40/tonne from July

16 July 2013 09:08  [Source: ICIS news]

SINGAPORE (ICIS)--MEGlobal has nominated its August Asian Contract Price (ACP) at $1,140/tonne (€878/tonne) for monoethylene glycol (MEG), up by $40/tonne high from the previous month’s settlement, a company source said on Tuesday.

“We took an upbeat outlook about the future market,” the source said, citing strong likelihood that downstream demand would remain good.

In the downstream polyester industry, factories’ sale-to-output ratio has been high, allowing MEG prices to log in a 7.5% increase from early June, industry sources said.

($1 = €0.77)

By: Yolanda Chen

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

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index