20 December 2012 22:29 [Source: ICIS news]
HOUSTON (ICIS)--US methanol spot barge prices dropped by 3 cents/gal to a two-month low this week as full production in Trinidad issaid to have discouraged buying, sources said on Thursday.
Traders and buyers said spot prices fell to 120-121 cents/gal, down by about 2.4% from a close at 123-124 cents/gal last week.
The last time US spot methanol prices were this low was in late October, when supply issues in both Trinidad and Egypt pushed them up to 127 cents/gal from about 118 cents/gal .
But production in Trinidad has found a smooth spot lately after planned and unplanned outages there stretched from September into November.
A source at the state-owned National Gas Company in Trinidad said on Thursday that there were no gas curtailments to methanol and other petrochemical producers and most likely would not be for the rest of the year and even into January.
“Everybody is doing well,” a buyer said. “Nobody needs barges now; it’s that time of year.”
($1 = €0.75)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections