Europe Q2 methanol receives widespread support at €146.50/t

27 March 2009 17:26  [Source: ICIS news]

LONDON (ICIS news)--There was widespread support in the European methanol market for a second-quarter contract price at €146.50/tonne ($198/tonne), buyers and sellers said on Friday.

An initial second-quarter methanol contract price was agreed down €12.50/tonne between Helm AG and a large German consumer on Thursday.

Throughout the course of Friday the price attracted growing support from the market.

By close of business, the number had been formally agreed by a further four European producers and a broad spectrum of customers.

A large number of customers who had not formally agreed the price with their suppliers also said they supported the agreement.

Most added that while they had hoped for prices in a range of €135-140/tonne, they would be satisfied with the agreed figure.

Only one European producer had not agreed the price with its customers late on Friday, with news regarding the agreement expected from the company on Monday.

($1 = €0.74)

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By: Shelley Kerr
+44 20 8652 3214

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