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(Arabian Oil and Gas) -- Saudi
Basic Industries Corporation (SABIC) has slashed Asian Contract Prices (ACP) of
mono ethylene glycol (MEG) for May to USD 1.300 per tonne, a USD 100 decrease
compared to April prices, according to online portal Argaam.
MEG prices in the spot market have hovered around USD 1.135 per tonne.
MEG prices are generally set by three major players in the industry, which
include SABIC, MEGlobal and Shell Chemicals.
Shell Chemical ACP prices for May are set at around USD 1.280 per tonne
(down USD 120 from April), while MEGlobal ACP prices for May are at USD 1.250
per tonne ( down USD 100 from April).
SABIC is the largest MEG producer in the world, with a production
capacity exceeding 5.345 million tonnes per year through its production
facilities in Yanbu and Jubail.
mrcplast.com
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