18 November 2007 16:48 [Source: ICIS news]
By Stephen Burns
BUENOS AIRES (ICIS news)--The global methanol market may have peaked for now, but supply concerns could re-ignite the spectacular rally in prices of recent months, a producer said on Sunday.
Production cuts, particularly at Methanex's 3.8m tonne/year plant in ?xml:namespace>
"When you have such a significant base difficulty, any other plant issue is greatly magnified," the producer said on the sidelines of the annual Latin American Petrochemical Association (APLA) meeting in
The problems in
The market tightness for methanol has prompted many customers to ask for more material than usual because other suppliers have not been able to meet demand, the producer said.
The US Gulf spot barge price was at $2.85/gal ($948/tonne) last week, compared with low-to-mid 80 cents/gal in August, according to data from global chemical market intelligence service ICIS pricing.
Forward pricing has been cooling, though. December pricing for US Gulf barges has been discussed at around $2.50/gal.
The APLA event ends on Tuesday.
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