MEGlobal on Monday nominated its August Asia contract price for monoethylene glycol at $1,140/mt CFR, up $40 from its price for July, a company source said in an email.
"The August 2013 ACP reflects the short term supply/demand situation in the Asian market," the company said.
MEGlobal, a 50:50 joint venture of US-based Dow Chemical and Kuwait's Petrochemical Industries Co., is one of three major producers to nominate monthly MEG ACPs. The others, Shell and SABIC, have yet to announce their August ACP nominations.
