28 February 2013 03:20 [Source: ICIS news]
SINGAPORE (ICIS)--Canada's Methanex has increased its March Asian Posted Contract Price (APCP) for methanol at $450/tonne (€342/tonne), up by $15/tonne from its contract price for February, 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.
A South Korean trader said the price is reasonable after discounts, as the methanol prices in the Asian market had largely increased in February.
Methanex had earlier posted its North American non-discounted reference price at $1.55/gal ($516/tonne) FOB (free on board) US for March, an increase of 10 cents/gal.
Its first-quarter European Posted Contract Price (EPCP) is at €370/tonne FOB Rotterdam, up by €30/tonne from the last quarter of 2012.
The South Korean methanol prices had moved up by around $13/tonne on the average, since the start of February to $380-386/tonne CFR Korea when last assessed on 22 February.
($1 = €0.76)
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