28 July 2010 23:13 [Source: ICIS news]
The July methanol range was assessed at $1.05-1.07/gal.
Participants expected August would roll over from July after a hike in spot values last week sent prices to 91-94 cents/gal, surprising traders and buyers.
Sources at Southern Chemical said the contract decrease was more reflective of current market conditions than the short uptick in the spot arena.
Canada’s Methanex and Houston-based Southern Chemical are the two major methanol suppliers to the US market, which imports about 77% of its methanol from Trinidad.
No price announcement was yet confirmed by Methanex.
($1 = €0.77)
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