13 December 2007 17:05 [Source: ICIS news]
LONDON (ICIS news)--Methanol customers are outraged at suppliers’ proposals to increase first-quarter prices by €170-215/tonne ($248-314/tonne) from the fourth-quarter settlement of €380/tonne, they said on Thursday.
“Helm’s €590/tonne is completely out of range and very bullish,” a customer said.
On Wednesday Helm put €595/tonne on the table for the first quarter, according to a company official.
StatoilHydro was proposing €550/tonne “but would be prepared to settle at €530/tonne,” the customer added.
A StatoilHydro source said: “We want to discuss the contract price with customers and not do negotiations through news letters.”
“We were prepared to accept €520/tonne, but news of $2.25 cents/gal (€508/tonne) in the ?xml:namespace>
A different buyer was vying for a result under €500/tonne “based on Asian prices and the trend in the
An outer-month barge was sold for January at $2.25 cents/gal FOB (free on board) on Tuesday, marking a 25-cent drop from the previously reported January deal at $2.50/gal FOB, according to global chemical market intelligence service ICIS pricing.
Chinese domestic methanol values continued to slide this week and were hovering around CNY 3,600-3,850/tonne ($489-523/tonne) ex-tank, down CNY 100-150/tonne from last week.
“We had hoped to settle this week because we may be hit with higher numbers on 1 January and need time to prepare our marketing people,” a customer said.
($1 = €0.68/$1 = CNY 7.37)
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