US June methanol postings slip on Southern Chemical's decrease

28 May 2013 16:54  [Source: ICIS news]

HOUSTON (ICIS)--US June methanol contracts slipped on Tuesday as Southern Chemical Corp (SCC) reduced its monthly posting to 162 cents/gal from 165 cents/gal.

Methanex rolled its May posting of 160 cents/gal for June on 24 May.

The cut, averaging a 1.5 cents/gal reduction on the monthly contract, sided with optimists who had been hoping for a decrease in the May contract price, which represented five-year highs for Methanex and SCC.

Supply issues in Trinidad and Venezuela sparked higher prices in late April and May, though the problems have since been somewhat alleviated.

($1 = €0.77)

By: Lane Kelley
+1 713 525 2653

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