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Ititial NWE December MEG CP settled at EUR1,048/MT FD, down EUR22/MT

Increase font size  Decrease font size Date:2012-12-19   Views:467
An initial European monoethylene glycol contract price for December was settled at Eur1,048/mt ($1,354/mt) FD Northwest Europe Friday, industry sources said.

The figure represents a fall of Eur22/mt on the November CP.

The settlement was between seller BASF and its customer Indorama. BASF confirmed the deal but Indorama wasn't immediately available to confirm.

The settlement was in a MEG market described by sources as lackluster, with slow demand from both derivatives polyethylene terephthalate and antifreeze.

Spot prices were pegged at Eur870-890/mt FCA NWE, drifting lower this week as the industry destocked, sources said. Last Friday prices were assessed at Eur890/mt FCA NWE.

 
 
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