26 February 2013 18:08 [Source: ICIS news]
HOUSTON (ICIS)--Methanex raised its US March methanol contract by 10 cents/gal to 155 cents/gal on Tuesday, the highest monthly posting for the company in four years.
As reported last week, industry sources expected a hike based on recent jumps in spot barge prices because of rising values in Europe.
Spot prices – now at 133-134.5 cents/gal – have jumped more than 10 cents/gal in the past month, sources said on Tuesday.
Methanex and Southern Chemical Corp (SCC) typically set the contract price, but SCC has not posted for March yet. The US-based company posted 146 cents/gal for February.
Methanex’s latest number still falls short of its posting of 158 cents/gal in September 2008, according to the company’s website.
($1 = €0.76)
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