29 April 2013 17:01 [Source: ICIS news]
HOUSTON (ICIS)--Methanex raised its US May methanol contract to 160 cents/gal on Monday, marking a five-year high for the Canada-based producer.
The move confirmed expectations that a big increase was coming because of recent supply problems in Trinidad but fell somewhat short of predictions of an overall 10-12 cents/gal hike in the contract.
Southern Chemical Corp (SCC) raised its May methanol contract to 165 cents/gal late last week, also a five-year high for the company.
With Methanex’s posting, the May contract rose an average of 8.5 cents/gal from the April postings of 153 for SCC and 155 for Methanex.
The two companies typically set the US contract range with their postings.
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