31 March 2011 03:34 [Source: ICIS news]
SINGAPORE (ICIS)--Methanex has nominated its methanol Asian posted contract price (APCP) for April at $395/tonne (€280/tonne) CFR (cost & freight) Asia, a decrease of $25/tonne from March, the company said on Thursday.
The APCP is the benchmark for Methanex’s contracts in South Korea and Japan, where importers buy on negotiated formulas based on this figure.
Korean buyers said the actual discounted price was still high, but declined to comment on how the APCP was used in the calculation of the contracts.
“Downstream demand is still weak,” said a major trader.
Methanex posted its European methanol second quarter contract price at €305/tonne ($430/tonne) FOB (free on board) Rotterdam, a decrease of €20/tonne from its first quarter price on 18 March, according to its website.
Last Friday, Methanex rolled over its US March contract methanol nomination at 128 cents/gal ($426/tonne, €302/tonne).
($1 = €0.71)
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