UpdateUS December methanol rolls over at 145, 148 cents/gal

29 November 2012 21:31  [Source: ICIS news]

US December methanol rolls over(adds details throughout)

HOUSTON (ICIS)--US December methanol rolled over at 145 and 148 cents/gal with Methanex’s posting on Wednesday.

Methanex posted 145 cents/gal and Southern Chemical Corp (SCC) issued 148 cents/gal earlier in the day. Both companies repeated their prices posted for November. Canada-based Methanex and Texas-based SCC typically set the contract price.

Contract prices jumped up 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.

Methanol spot barge prices remain at 126-127 cents/gal, with sources saying there has been little trading this week. The gap between spot and contract, averaging about 20 cents/gal, is just above the 52-week average of 19.6 since the same week in 2011.

Methanol observers said supplies in North America remained tight because of shipments still stranded in New Jersey following Hurricane Sandy. Sources expected those supplies to be shipped from Perth Amboy and Bayonne in the next week.

By: Lane Kelley
+1 713 525 2653

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