Canada’s Methanex rolls over May APCP for methanol at $450/tonne

30 April 2013 07:41  [Source: ICIS news]

SINGAPORE (ICIS)--Canada's Methanex said on Tuesday its Asian Posted Contract Price (APCP) for methanol in May will be at $450/tonne (€342/tonne), unchanged from its April contract price.

“Following this month's discussions on market conditions, we have decided to roll [over] our APCP for May 2013,” a company official said in an email to ICIS.

The company had kept April’s APCP unchanged from March at $450/tonne as well.

Methanex uses its APCP on a CFR (cost & freight) Asia basis as a benchmark for its contracts in South Korea and Japan, with discounts given.

Demand in April has not reached its traditional peak, because of the global economic uncertainty, market sources said.

Separately, the company has also announced its US May methanol contract at 160 cents/gal ($533/tonne) on 29 April, marking a five-year high for the Canada-based producer.

The company had earlier posted its independent contract price for the second quarter at €390/tonne FOB (free on board) Rotterdam in March.

Methanol is largely used in the production of formaldehyde, methyl tertiary butyl ether (MTBE) and acetic acid.

($1 = €0.76)

By: Heng Hui
+65 6780 4359

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