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.
Other market sources could not be reached for comment. The MEG contract is deemned 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.
