30 October 2009 02:45 [Source: ICIS news]
APCP, on CFR (cost and freight) Asia basis, is the benchmark for Methanex’s contracts in ?xml:namespace>
Korean methanol market players had expected the stability in contract prices since the domestic distribution market was said to be very weak.
“There is no reason to increase,” said a major buyer.
Spot prices were at $265-275/tonne CFR Korea for the whole month of October, according to data from global chemical market intelligence service ICIS pricing.
The company had earlier posted its North American November methanol contract price nomination at 100 cents/gal ($333/tonne, €223/tonne), a 5-cent gain from its October rate.
The company’s fourth-quarter European methanol price was settled in late September at €223/tonne, an increase of €64/tonne from the third quarter, but largely similar to the North American November contract price.
($1 = €0.67)
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