Saudi Arabian Basic Industries Corp., the Middle East’s largest company in terms of market capitalization, decided to keep December’s monoethylene glycol (MEG) prices for the Asian market at $1,000 per ton, the same nomination as November.
Spot MEG prices rose to $835 per ton over the last week.
|
SABIC’s ACP for MEG |
||||
|
Change from previous month |
Nomination Price ($/ton) |
Month |
||
|
-- |
1200 |
January 2014 |
||
|
(30) |
1170 |
February |
||
|
+10 |
1180 |
March |
||
|
(60) |
1120 |
April |
||
|
-- |
1120 |
May |
||
|
(30) |
1090 |
June |
||
|
+40 |
1130 |
July |
||
|
+20 |
1150 |
August |
||
|
-- |
1150 |
September |
||
|
(30) |
1120 |
October |
||
|
(120) |
1000 |
November |
||
|
-- |
1000 |
December |
||
Sabic, MEGlobal, and Shell Chemicals, the world’s three major sellers of MEG, usually determine the prices of MEG contracts in Asia’s market. They often give their clients competitive discounts compared to the announced prices.
MEGlobal’s price nomination for December is $1,020 per ton, a $60 increase from November
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