27 May 2011 03:58 [Source: ICIS news]
SINGAPORE (ICIS)--Methanex has raised its listed Asian posted contract price (APCP) for June methanol at $420/tonne (€298/tonne), up $25/tonne from the previous month, the company said on Friday.
The APCP is on a cost and freight (CFR) ?xml:namespace>
The company's higher price for June snapped two consecutive months of price rollovers.
Korean buyers complained the price increase was unjustified as demand remained weak.
“I have stopped spot import purchases and started to buy from domestic markets as it is much cheaper,” said an end-user based in
Methanex 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 on 18 March, according to its website.
In the US, Methanex nominated 128 US cents/gal for June methanol, rolling over the price for the fifth consecutive month.
($1 = €0.71)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|