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.
Source:
http://news.chemnet.com/Chemical-News/detail-1771914.html
