22 June 2012 15:22 [Source: ICIS news]
LONDON (ICIS)--The European methanol contract price for the third quarter has been agreed at a rollover, at €340/tonne ($425/tonne), buyers and sellers said on Friday.
While several suppliers maintain that current market fundamentals justify an increase, others resigned themselves to the fact that in the current negative macroeconomic environment this would be difficult to achieve.
Buyers point to two months of declining spot prices, as well as lower prices for other chemicals and crude oil, as factors that made an increase inappropriate.
The European contract price is settled on a FOB (free on board) Rotterdam basis.
($1 = €0.80)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections