The US March monoethylene glycol contract for large volume buyers whose contracts are tied to the Asian contract price is to be at about 54 cents/lb ($1,190/mt), down around 8 cents/lb from February, according to industry sources.
Depending on the contract, the price can be roughly calculated by averaging the Asian contract price nominations and subtracting freight costs.
On Friday, Shell nominated its ACP at $1,260/mt, and MEGlobal at $1,280/mt CFR Asia. Subtracting an assumed freight of $75/mt, the USG contract would be roughly 54.2 cents/lb.
The contract could change depending on what the third ACP nominator, Sabic, announces for its ACP as the company had not yet issued a contract price.
Depending on the contract, the price can be roughly calculated by averaging the Asian contract price nominations and subtracting freight costs.
On Friday, Shell nominated its ACP at $1,260/mt, and MEGlobal at $1,280/mt CFR Asia. Subtracting an assumed freight of $75/mt, the USG contract would be roughly 54.2 cents/lb.
The contract could change depending on what the third ACP nominator, Sabic, announces for its ACP as the company had not yet issued a contract price.
