Canada’s Methanex posts December APCP for methanol at $435/tonne

30 November 2012 03:38  [Source: ICIS news]

SINGAPORE (ICIS)--Canada's Methanex has rolled over its December Asian Posted Contract Price (APCP) for methanol at $435/tonne (€335/tonne), unchanged from its contract price for November, the company said on Friday.

The company uses the APCP on a CFR (cost & freight) Asia basis as a benchmark for its contract in South Korea and Japan, with discounts.

“Following this month's discussions on market conditions, we have decided to roll over our APCP for December 2012," a company source said.

On Wednesday, Methanex posted $1.45/gal ($482.85/tonne) FOB (free on board) US and Texas-based Southern Chemical Corp (SCC) issued $1.48/gal FOB US. Both companies repeated their prices posted for November.

Methanex and SCC typically set the contract price. Methanol spot barge prices remained at $1.26-1.27/gal FOB US, with sources saying there has been little trading in the week.

Methanol is mainly used in the production of formaldehyde, methyl tertiary butyl ether (MTBE) and acetic acid.

($1= €0.77)

By: Heng Hui
+65 6780 4359

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