30 January 2013 17:53 [Source: ICIS news]
HOUSTON (ICIS)--Southern Chemical Corp (SCC) posted on Wednesday 146 cents/gal (€1.08/gal) for its February methanol contract price, repeating its January number and confirming the prediction of observers who said a rollover was in the works.
SCC and Methanex typically set the contract price, but Methanex has not posted its February price yet. The Canada-based producer posted 145 cents/gal for January.
Contract prices jumped sharply in October based on supply outages in Trinidad and Egypt but have stayed in the mid-140 cents/gal range since then. US methanol spot barge prices moved up 3 cents/gal last week, with some traders speculating that producers were making purchases to raise spot prices to support monthly contract values.
Traders said spot barge prices today remained at 125-126 cents/gal, the range at the end of last week.
($1 = €0.74)
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