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)
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