Saudi SABIC maintains December MEG ACP nomination at $1,200/tonne

13 November 2013 08:03  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Arabia’s SABIC has maintained its nomination for December monoethylene glycol (MEG) Asian Contract Price (ACP) at $1,200/tonne (€888/tonne) from November, a company source said on Wednesday.

MEGlobal, another MEG major, has nominated the same price for its December ACP.

On 12 November, spot MEG prices rose to $1,037-1,045/tonne CFR (cost and freight) Asia, up by $3/tonne from the previous day, according to Chemease, an ICIS service in China.

Some market players doubt the price increase can be sustained as demand is still weak.

($1 = €0.74)

By: Yolanda Chen

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