Higher N America Sept methanol proposed

29 August 2007 23:27  [Source: ICIS news]

HOUSTON (ICIS news)--Two leading North American methanol suppliers have nominated a September US Gulf (USG) non-discounted barge price of 96 cents/gal ($319/tonne), reflecting recent strength in spot pricing, sources said on Wednesday.

Methanex nominated a 3 cent/gal increase from 93 cents/gal in August, and Southern Chemical nominated a 5 cent/gal increase from 91 cent/gal in August.

Spot methanol barge prices were discussed in a range of 120-125 cents/gal FOB (free on board) USG on Wednesday, following Tuesday barge trades at either end of that range.

A recent run-up in spot prices was due to a temporary shortage of spot availability amid ongoing production outages at Methanex in Chile and a force majeure declaration by Lyondell in LaPorte, Texas, sources said.

Spot prices were assessed at 75-78 cents/gal FOB a month earlier on 29 July, according to global chemical market intelligence service ICIS pricing.

Lower spot price ideas were already being discussed for October, sources said.
By: David Barry
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