26 August 2011 22:43 [Source: ICIS news]
HOUSTON (ICIS)--US September methanol appeared headed toward a rollover on Friday as Southern Chemical Corp (SCC) issued its monthly contract price of 137 cents/gal, a repeat of its posting for August.
Methanex had not issued its September contract price.
SCC and Methanex historically have set the monthly contract range with their postings. The producers issued increases of 10-11 cents/gal for August after six straight months of rollovers.
Buyers and sellers earlier this week said a rollover in September contract prices appeared likely, with oil prices dropping 14% over the past month and plant and supply issues in Trinidad either resolved or heading toward resolution.
A source said the restart of Methanex’s 1.7m tonne/year Atlas plant in Trinidad earlier this month made it harder to picture tighter supply pushing up prices.
($1 = €0.70)
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