Canada’s Methanex reduces methanol July APCP by $25/tonne

29 June 2012 07:24  [Source: ICIS news]

SINGAPORE (ICIS)--Canada's Methanex has nominated its July Asian Posted Contract Price (APCP) for methanol at $440/tonne (€352/tonne), down by $25/tonne from its proposed price for the June 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.

South Korean traders said demand for methanol is very weak and they expect the company to supply more of its product from New Zealand to South Korea because of the expected restart of its methanol plant with a nameplate capacity of 850,000 tonnes/year at Motunui in New Zealand.

The company has published its independent third-quarter European Posted Contract Price (EPCP) at €340/tonne FOB (free on board) Rotterdam, a rollover from the second quarter.

In the US, Methanex posted its July contract price at 132 cents/gal ($439/tonne), down by 6 cents/gal ($20/tonne) from the June posting.

($1 = €0.80)

By: Heng Hui
+65 6780 4359

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