SABIC proposes MEG price reduction for February 2016 to USD710/tonne
Saudi Basic Industries Corporation (SABIC) [2010.SE] has proposed reducing its February 2016 Asian contract price nomination for mono-ethylene glycol (MEG) to USD710/tonne, a decrease of USD20/tonne compared to January, according to Argaam. This is lower than the USD740/tonne (+USD40/tonne M-o-M) contract price that was proposed by Dubai-based MEGlobal for February, but higher than the current spot price of USD580/tonne. (Argaam) SABIC: SAR67.27 as of 14 January 2016, Rating: Buy, FV: SAR100.00 per share, MCap: USD53,816 million, SABIC AB / 2010.SE
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