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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections