US methanol spot inches up as US northeast snowstorm approaches

08 February 2013 18:45  [Source: ICIS news]

HOUSTON (ICIS)--US methanol spot barge prices inched higher on Friday to 126-127 cents/gal (€0.94-95) on expectations that a snowstorm approaching the US northeast may boost sales of windshield wiper fluid, a key derivative.

Spot methanol prices reached 128 cents/gal earlier in the week before falling back. A trader said most deals done this week have been in the 126-127 cents/gal range.

Spot methanol closed on 1 February at 125-126 cents/gal.

Another reason for the increase came from talk of a small methanol plant outage in Trinidad, though it could not be confirmed.

A source close to the Point Lisas Industrial Estate there, where most of the island’s petrochemical industry is located, said production was not quite at 100% capacity but was running at normal volumes.

($1 = €0.75)

By: Lane Kelley
+1 713 525 2653

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