MEG producers announce ACP for August arrivals
July 22, 2011 - Asia
Recently MEGlobal, major producer of monoethylene glycol (MEG) nominated its Asian Contract Price (ACP) for arrivals in August at US $1300 / MT (CFR Asian main ports).
On the other hand, Shell nominated it at $1320 / MT (CFR) and SABIC announced its MEG ACP at $1300 / MT (CFR).
With regards to contract prices for the Americas, the latest MEGlobal contract price announcement of its MEG North American Benchmark (NAB) was $1477 / MT. The August announcement has not been made yet.
With regards to ECP (Europe), MEGlobal does not announce its own ECP; rather, pairs of market participants negotiate ECP. The latest market-wide settlement was €1044 / MT for July. No settlements have been discussed yet for August.