27 February 2012 18:21 [Source: ICIS news]
HOUSTON (ICIS)--US methanol contracts for March rolled over at 133-134 cents/gal, according to postings on Monday by Methanex and Southern Chemical Corp (SCC).
Methanex posted 134 cents/gal, repeating its posting for February. SCC’s 133 cents/gal matched its previous monthly number as well. Methanex and Southern Chemical Corp (SCC) typically set the monthly contract range with their postings.
The contract price serves as a starting point in each company’s negotiations with customers who buy more than 1,000 tonnes monthly, according to market sources. Most contract customers currently get discounts of around 15%.
The monthly range peaked at 137-138 cents/gal in August 2011.
The current spot price for US methanol is 112.75-113.75 cents/gal, according to market sources.
($1 = €0.74)
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