MEGlobal has rolled over its June North American benchmark for monoethylene glycol at 51 cents/lb, multiple market sources said Friday.
The company said earlier this week that its June Asia contract price would decline $20 to $1,080/mt CFR main port.
US MEG contracts for fiber and PET makers were assessed at 45.38 cents/lb ($1,000/mt) for May based on producer discounts for large-volume buyers, unchanged from April's level. The other two producers that announce ACP prices -- Shell and Sabic -- have yet to release their June ACP nominations.
MEGlobal told customers it would increase its diethylene glycol price by 7 cents in June to 69 cents/lb, sources said. Market sources have cited continued tightness in the market for higher DEG prices in recent months.
MEGlobal is a 50:50 joint venture of the US' Dow Chemical and Kuwait's Petrochemical Industries.
