NewsFlashMethanex rolls over Asia methanol APCP

29 August 2008 03:56  [Source: ICIS news]

SINGAPORE (ICIS news)--Methanex said late on Thursday that it has rolled over the September Asian Posted Contract Price (APCP) for methanol from the previous month.

The Vancouver-based company’s September price at $500/tonne (€340/tonne) CFR (cost and freight) Asia was unchanged for three months since June. The rollover was anticipated by the market, amid similar levels in Asian spot values, said Korean buyers.

APCP is the benchmark for methanol contracts in South Korea and Japan, where large importers buy on negotiated formulas based on this number. Methanex had earlier nominated North American non-discounted reference price for September at $1.58/gal ($521/tonne), a rollover as well.

($1 = €0.68)

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By: Heng Hui
+65 6780 4359

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