Methanex rolls over $420/tonne for July methanol APCP

30 June 2011 04:29  [Source: ICIS news]

SINGAPORE (ICIS)--Methanex has listed its methanol Asian posted contract price (APCP) for July at $420/tonne (€290/tonne) CFR (cost and freight) Asia, unchanged from June prices, 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.

Market participants said they usually receive a double-digit discount to the listed APCP.

Korean buyers said the final contract price was fair as supply was tight for July and possibly this situation might last until August.

Inventories were low, particularly in Ulsan, according to distributors.

Methanex had announced in mid-June its independent European posted Contract Price would be at €295/tonne free on board (FOB) Rotterdam, having agreed with five buyers.

For July US methanol, Methanex rolled over its nominated price of 128 US cents/gal ($426/tonne, €294/tonne) for the sixth consecutive month.

($1 = €0.69)

By: Heng Hui
+65 6780 4359

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