MEGlobal, a major global supplier of MEG has sharply reduced its MEG Asian Contract Price (ACP) for May arrivals from those in April.
MEGlobal has revised the MEG ACP for May arrivals to US $1,120 / ton (CFR Asian main ports) from $1,200 / ton in April, down $80 /ton or 6.66 percent.
Earlier, in case of April arrivals too, MEGlobal had reduced it ACP by $20 / ton from the March ACP.
According to MEGlobal, the May 2012 ACP reflects the short term supply/demand situation in the Asian market.
Fibre2fashion News Desk - India
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