26 July 2012 05:13 [Source: ICIS news]
The average realised price of methanol for the April-June 2012 period rose to $384/tonne, up by 5.8% compared with the same period a year earlier, the company said in a statement.
Its sales volume for the March-June period, however, fell slightly to 1.85m tonnes from 1.87m tonnes in the same period a year earlier, Methanex said.
The company said its net profit stood at $74m in the first half of 2012, slightly lower than the $75m posted in the same period last year.
The company sold 3.66m tonnes of methanol in the January-June period, a drop of 1.6% compared with the same period in 2011, but the average realised price of the product increased by 5% year on year to $383/tonne, it said.
“Overall methanol demand has remained good and the pricing environment has been relatively stable, despite some demand softness in certain derivatives,” said Methanex president and CEO Bruce Aitken in the statement.
“Industry demand growth is expected to significantly exceed new capacity additions over the next few years and we have a number of growth projects in place to capitalise on the positive industry conditions,” Aitken added.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections