29 September 2008 22:01 [Source: ICIS news]
HOUSTON (ICIS new)--Canadian methanol producer Methanex has nominated its North American non-discounted reference price for October delivery at 150 cents/gal, 5% lower than September, the company said on Monday.
Methanex’s decline in contract pricing follows Southern Chemical Company (SCC), which nominated its North American October price at 151.5 cents/gal, down 3.5 cents from September.
Traders said the declines came as no surprise, as the downward trend in spot prices reflected a weakness in demand for methanol, a key feedstock in several chemicals such as acetic acid and methyl methacrylate (MMA).
Spot prices for methanol were at 126-128 cents/gal FOB (free on board) USG (US Gulf), according to global market intelligence service ICIS pricing.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections