Methanex drops methanol APCP $50/t for October

29 September 2008 11:07  [Source: ICIS news]

SINGAPORE (ICIS news)--Methanex has dropped the October Asian posted contract price (APCP) by $50/tonne for methanol from September, it said on Monday.

The Vancouver-based company’s October price at $450/tonne (€306/tonne) CFR (cost and freight) Asia marked the first drop in methanol values since June this year.

This drop was widely anticipated by the market, amid similar falls in Asian spot values, said Korean buyers.

The APCP is the benchmark for methanol contracts in South Korea and Japan, where large importers buy on negotiated formulas based on this number.

($1 = €0.68)

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By: Heng Hui
+65 6780 4359

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