Initial Europe MEG August contract agreed at €990/tonne

23 August 2013 15:33  [Source: ICIS news]

LONDON (ICIS)--An initial European monoethylene glycol (MEG) August contract has been agreed at €990/tonne ($1,320/tonne), a €43/tonne increase from July, the buyer and seller involved said on Friday.

The increase was the result of rising spot prices in Europe and Asia, the seller involved confirmed.

August contract negotiations have been protracted and the majority of buyers and sellers remain far apart on price ideas. Some producers continue to target a €100/tonne increase in August because of rising spot values.

The settlement was agreed on a free delivered (FD) northwest Europe (NWE) basis.

($1 = €0.75)

By: Mark Victory
+44 208 652 3214

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