Europe methanol Q2 2013 contract price settles up €20/tonne

02 April 2013 15:53  [Source: ICIS news]

LONDON (ICIS)--The European methanol contract price for the second quarter has been agreed at €390/tonne ($500/tonne), up €20/tonne from the previous quarter, players involved in the settlement said on Tuesday.

Several buyers had been trying to avoid an increase and had rejected €390/tonne when it was offered last week.

However, once an initial agreement was made between a buyer and a seller, other consumers conceded it was too late to get a lower number on the table.

The European contract price is settled on a FOB (free on board) Rotterdam basis.

($1 = €0.78)

By: Ross Yeo
+44 208 652 3214

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