US spot MEG prices were assessed up 5 cents/lb week on week Jan. 15 at 30-31 cents/lb, reflecting a lack of export supply availability in light of Nan Ya Plastics' Jan. 11 declaration of force majeure on US MEG. The January US MEG contract price remained assessed Jan. 8 at 27.07-27.57 cents/lb FOB, up 0.85 cent from the December assessment of 26.22-26.72 cents/lb. The contract price reflects a 1 cent increase in the January US benchmark contract price from December, and higher Asia Contract Price nominations. The assessment is then based on a weighted formula that discounts the North American benchmark price by 15% and the ACP average by 5%, with each segment equally weighted, per market feedback.