Canada’s Methanex rolls over Feb APCP for methanol at $435/tonne

31 January 2013 03:38  [Source: ICIS news]

SINGAPORE (ICIS)--Canada's Methanex has rolled over its February Asian Posted Contract Price (APCP) for methanol at $435/tonne (€322/tonne), unchanged from its contract price for January, the company said on Thursday.

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 February 2013," the company said in an email to market participants.

A South Korean trader said the price after discounts is still high if the current spot prices remain at $370/tonne CFR Korea. However, Methanex could not be reached immediately for comments.

Methanex had earlier posted its North American non-discounted reference price at $1.45/gal ($482.85/tonne) FOB (free on board) US for February, a rollover from January. Its first-quarter European Posted Contract Price (EPCP) is at €370/tonne FOB Rotterdam, up by €30/tonne from the last quarter of 2012.

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

($1 = €0.74)

By: Heng Hui
+65 6780 4359

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