Methanex posting raises US November methanol by 13 cents/gal

25 October 2012 16:47  [Source: ICIS news]

HOUSTON (ICIS)--Methanex raised its posted price for US methanol late on Wednesday to 145 cents/gal, a 13 cent/gal increase over the producer’s October number, which was in line with market expectations following the big jump in spot prices last week.

Methanex and Southern Chemical Corp (SCC) typically set the contract price. SCC has not posted its November price yet.

The two companies’ postings for October were 132-133 cents/gal.

Chief executive Bruce Aitken said in the company’s earnings release late on Wednesday that Methanex had announced a $43/tonne (€33/tonne) increase to its North American non-discounted price, which brings it to $482/tonne.

Using the company’s conversion rate, the per/tonne price equals approximately 145 cents/gal.

($1 = €0.77)

By: Lane Kelley
+1 713 525 2653

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