Methanex rolls over August methanol APCP at $310/tonne

30 July 2010 04:06  [Source: ICIS news]

SINGAPORE (ICIS)--Methanex has nominated its Asian posted contract price (APCP) for August methanol at $310/tonne (€236/tonne), a roll over from the previous month, the company said on Friday.

The contract price, on a cost and freight (CFR) Asia basis, had been kept at the same level since May.

The roll-over represents Methanex’s view of stable demand-supply fundamentals that lead to steady pricing, the source said.

The APCP is the benchmark for Methanex’s contracts in South Korea and Japan, where large importers buy on negotiated formulas based on this figure.

A number of Korean buyers said contractual prices after discounts might be in line with spot prices of methanol. Spot prices were up by $5/tonne at $245-255/tonne CFR Korea on last Friday, according to data from ICIS.

Methanol cargoes in Korea had been trading within a band of $245-270/tonne CFR Korea since May, assessed by ICIS.

Methanex earlier nominated North American May methanol contracts at 105 cents/gal ($349/tonne, €253/tonne), a rollover from July.

($1 = €0.76)

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By: Heng Hui
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