30 September 2009 17:30 [Source: ICIS news]
LONDON (ICIS news)--Global major Methanex has agreed its fourth-quarter European methanol price at €223/tonne ($323/tonne), an increase of €64/tonne from the third quarter, a company source said on Wednesday.
The company sets its own quarterly contract price, the Methanex European Posted Contract Price (MEPCP), independently, but agreed to follow the industry agreed settlement which was reached on Tuesday.
“We indicated a month ago in the mid €200s/tonne and after discussion probably in the lower end of that range. This is fair if you look at the spot numers in ?xml:namespace>
The industry agreed contract was yet to be fully confirmed, but had received widespread support from a number of large players on both the consumer and producer sides.
($1 = €0.69)
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