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NWE monoethylene glycol July contract fully settled at Eur1,010/mt FD, flat from June, Aug yet to settle

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NWE monoethylene glycol July contract fully settled at Eur1,010/mt FD, flat from June, Aug yet to settle

London — The Northwest European monoethylene glycol contract for July has been fully settled at Eur1,010/mt ($1,155/mt) FD NWE, unchanged from June, two producers and a consumer confirmed Tuesday.

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Other market sources could not be reached for comment. The MEG contract is deemed fully settled if two separate sets of a producer and a consumer reach settlements at the same number.

MEG is yet to see an initial settlement for August in Europe and trade sources say that a wide difference between producers and consumers has delayed the current month's settlement.

MEG has two prime applications: as an anti-freeze and as a feedstock for downstream polyethylene teraphthalate manufacturing.

S&P Global Platts last assessed the 5-30 days forward MEG weekly spot price at Eur940/mt FD NWE on Friday, flat week on week.

--Shashank Shekhar, shashank.shekhar@spglobal.com

--Edited by Maurice Geller, maurice.geller@spglobal.com