MEGlobal on Thursday nominated its May Asia Contract Price for monoethylene glycol at $1,100/mt CFR main port, unchanged from April, according to a notice to buyers provided by the company.
The price reflected "the short-term supply/demand situation in the Asian market," the notice said, without providing further details.
Asian MEG prices were assessed Thursday at $930/mt CFR China, down $17 since April 1, according to Platts data.
Canada-headquartered 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 other producers, Shell and Saudi Arabia's Saudi Basic Industries Corporation (Sabic), have yet to announce their April ACP nominations.
