28 April 2011 03:32 [Source: ICIS news]
SINGAPORE (ICIS)--Methanex has nominated its methanol Asian Posted Contract Price (APCP) for May at $395/tonne (€269/tonne) CFR (cost & freight) Asia, a rollover from the previous month, 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 that are based on this figure.
Korean buyers said this is a fair nomination, as supply and demand conditions are balanced.
“Downstream customers expect May prices to be stable,” said a major distributer.
Methanex on 18 March posted its European methanol second-quarter contract price at €305/tonne ($449/tonne) FOB (free on board) Rotterdam, a decrease of €20/tonne from its first-quarter price.
($1 = €0.68)
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