Initial Europe Q2 methanol price agreed up €15/t at €250/t

19 March 2010 16:00  [Source: ICIS news]

LONDON (ICIS news--An initial European second quarter methanol contract price (CP) has been agreed up €15/tonne at €250/tonne ($342/tonne), between Helm AG and a European consumer said, the involved parties said on Friday.

The agreement followed news that global major Methanex will post its independent Methanex European Posted Contract Price (MEPCP) later today at the same level.

“I think this price follows the general market trend as well as our forecast that economics will pick up in April,” a source at Helm said.

Other European players currently in negotiations over the quarterly contract price indicated that €250/tonne was in the right range, but were unable to confirm the price as yet.

The first quarter contract price was settled at €235/tonne FOB (free on board) Rotterdam.

European spot prices were steady throughout the week at €217-€219.50/tonne until Friday afternoon, when a deal for April was done at €212.5/tonne.

($1 = €0.73)

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By: Ross Yeo
+44 208 652 3214

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