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)
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