US June methanol contracts seem poised for hike

21 May 2009 18:36  [Source: ICIS news]

HOUSTON (ICIS news)--US methanol contract prices for June may rise, a seller said on Thursday, as spot values in the US Gulf continue to rise.

A buyer agreed with the higher contract price sentiment, as rising downstream product prices such as methyl tertiary butyl ether (MTBE) supported stronger methanol pricing.

June spot methanol prices were assessed at 51-53 cents/gal FOB (free on board) USG (US Gulf), up four cents from last month, according to ICIS pricing.

May contract rates were 60 cents/gal FOB USG, according to Methanex and Southern Chemical Corp (SCC).

If contract prices do increase next month, it would mark the first spike in 13 months for Methanex.

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By: Steven McGinn
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