Methanex rolls over April APCP for methanol at $440/tonne

30 March 2012 03:29  [Source: ICIS news]

SINGAPORE (ICIS)--Methanex has nominated its April Asian posted contract price (APCP) for methanol at $440/tonne (€330/tonne), unchanged from its proposed price for the March contract, the company said on Friday.

Methanex uses the APCP on a CFR (cost & freight) Asia basis as a benchmark for its contracts in South Korea and Japan, with discounts.

“Considering methanol supply, it should be tight, so prices should go up,” a major Korean trader said.

“But derivatives are weak and market sentiment is not good, hence a rollover is proper,” he added.

Two major Korean market participants said the price would have no bearing as it was way above market spot prices, which were last assessed at $390-395/tonne CFR Korea last Friday.

The company has published its independent European posted contract price (EPCP) at €340/tonne ($453/tonne) FOB (free on board) Rotterdam, up by €20/tonne.

This is in line with the European contract price, which was also confirmed last Friday at €340/tonne.

In the US, Methanex rolled over its April contract prices on Wednesday at 134 cents/gal ($446/tonne), the same as its March posting.

($1 = €0.75)

By: Heng Hui
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly