Methanex rolls over $470/tonne APCP for December methanol

30 November 2011 03:35  [Source: ICIS news]

SINGAPORE (ICIS)--Methanex has nominated its December Asian posted contract price (APCP) for methanol at $470/tonne (€353/tonne) CFR (cost and freight) Asia, unchanged for the fifth straight month, the company said on Wednesday.

Methanex uses the APCP as a benchmark for its contracts in South Korea and Japan, where importers buy on negotiated formulas based on this figure, with an expected double-digit discount.

Korean buyers said that the final contract price was fair as the demand-supply situation is largely stable.

Methanex posted its independent European Posted Contract Price for the fourth quarter at €320/tonne ($427/tonne) free on board (FOB) Rotterdam in late September.

For December US methanol, Methanex has rolled over $1.38/gal ($450/tonne).

($1 = €0.75)

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By: Heng Hui
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