17 May 2013 23:59 [Source: ICIS news]
The ICIS calculations incorporate the April and May PX price of €1,120/tonne ($1,436/tonne) FD (free delivered) NWE (northwest Europe), which results DMT at €985-1,026/tonne.
As there was no clear contract price seen this month in the Asian PX market, European players looked at the average spot price developments to reach a PX settlement for May.
The European Q2 methanol contract price and the monthly April PX price were both used in the April DMT reference price calculations.
($1 = €0.78)
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