LONDON (ICIS)--The initial European monoethylene glycol (MEG) April contract has been followed and fully agreed at €900/tonne, a rollover from March, the second buyer and seller said on Wednesday night.
The news came the day two other parties settled on €900/tonne FD (free delivered) NWE (northwest Europe) as the initial contract figure.
Observers of the process were anticipating minimal moves, if any.
However, buyers had been seeking a lower price to reflect Asian developments in March.
"It is too high. Rejected to make second settlement," a third buyer said on Thursday morning.
Sellers were targeting an increase to recover lost margins and tightening supply.
Follow me on Twitter