SABIC proposes reducing MEG prices for June 2016 to USD790/tonne
Saudi Basic Industries Corporation (SABIC) [2010.SE] has proposed reducing its June 2016 Asian contract price nomination for mono-ethylene glycol (MEG) to USD790/tonne, a decrease of USD60/tonne compared to May, according to Argaam. This is higher than the USD770/tonne (-USD40/tonne M-o-M) contract price that was proposed by Dubai-based MEGlobal for June and higher than the current spot price of USD620/tonne. (Argaam) SABIC: SAR81.12 as of 29 May 2016, Rating: Neutral, FV: SAR90.00 per share, MCap: USD64,896 million, SABIC AB / 2010.SE
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