23 December 2010 17:49 [Source: ICIS news]
Methanex's reduction earlier this week to 135 cents/gal from 138 cents/gal in December effectively lowered the January range.
The Canadian-based producer and SCC historically have set the monthly North American contract methanol range with their nominations.
The slippage in the contract range came amid lower US methanol spot prices over the past six weeks, with the current low of 105 cents/gal down 13% from the yearly spot peak of 120 cents/gal in mid-November.
Spot methanol this year has increased 12%, from an average of 96 cents/gal in January 2010 to an average of 107.5 cents/gal on Thursday.
($1 = €0.76)
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