US December methanol expected to roll over on SCC posting

28 November 2012 17:22  [Source: ICIS news]

US December methanol expected to roll over HOUSTON (ICIS)--Southern Chemical Corp (SCC) posted 148 cents/gal for its December contract price on Wednesday, a repeat of its November number and confirming expectations of most observers that a rollover was in the works.

SCC and Methanex typically set the contract price, but Methanex has not posted its December price yet. The Canada-based producer posted 145 cents/gal for November.

Contract prices jumped sharply in November based on supply outages in Trinidad and Egypt. Methanol production also usually gets a boost in late autumn and early winter from sales of windshield-wiper fluid, which uses methanol.

Dow Chemical issued a letter to customers this week saying it was raising prices on monomers and acrylates because of rising of rising methanol and other feedstock costs.

Methanol observers also said supplies in North America remained tight because of shipments that remain stranded in New Jersey following Hurricane Sandy.

By: Lane Kelley
+1 713 525 2653

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