Europe spot methanol under €400/t on long market
11 January 2008 13:23 [Source: ICIS news]
LONDON (ICIS new)--Methanol spot prices have slid below €400/tonne ($592/tonne) in
“Most have sorted January out so there are not many needing product. There is length in January and sellers are struggling to find a buyer,” one seller said.
“The Iranians want to ship more to
There were several spot offers for January, February and March at €380/tonne and suggestions that €370/tonne may also be available for March lifting, buyers and sellers said.
However, spot buying interest was subdued with it being so early in the year and first-quarter contracts only recently having settled at €490/tonne, they added.
Prices were approaching the October average of €355/tonne, according to global chemical market intelligence service ICIS pricing.
This was not a European phenomenon, with values also falling in Asia and the
Improving supply saw prices hovering close to $500/tonne (€340/tonne) CFR (cost and freight)
US Gulf methanol spot prices were assessed around $1.95-2.00/gal FOB mid-week as fresh buying interest was slow to emerge and customers waited for lower prices, sources said.
The last reported deal was done at €390/tonne FOB (free on board)
($1 = €0.68)
By: Caroline Howard
+44 20 8652 3214
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