Methanex drops N American Oct methanol by 5%

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 more on methanol, MMA or acetic acid,  visit ICIS chemical intelligence
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By: Steven McGinn
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