Methanex hikes June methanol APCP by $25/tonne to $420/tonne

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) Asia basis.

The company's higher price for June snapped two consecutive months of price rollovers.

Importers from South Korea and Japan buy methanol on negotiated formulas based on Methanex's APCP

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 South Korea.

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)

By: Heng Hui
+65 6780 4359

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