21 December 2007 09:51 [Source: ICIS news]
(Updates, adds quotes from Arendt in last four paragraphs)
LONDON (ICIS news)--The first quarter Methanex European posted contract price (MEPCP) is €525/tonne ($751/tonne), up €145/tonne on the fourth quarter, a company source said on Friday.
“We are communicating the MEPCP for quarter one today,” said Philippe Arendt director of marketing and logistics at the Canadian company.
“There is a need for European prices to align in broad terms with the rest of the world. They have been dragging dramatically in quarter four,” Arendt said.
“We are positioning the MEPCP with the assumption that supply-demand could improve over the coming months,”
“We anticipate that the market conditions should improve globally. According to our supply-demand analysis, if there are no accidents, there should be an improvement of the demand-supply situation.”
“Inventories are very precarious, especially in ?xml:namespace>
($1 = €0.70)
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