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

31 May 2013 05:44  [Source: ICIS news]

SINGAPORE (ICIS)--Canada's Methanex said on Friday its Asian Posted Contract Price (APCP) for methanol in June will be at $450/tonne (€347/tonne), unchanged from its May contract price.

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.

Prices of methanol in the South Korean market were last assessed at an average of $390/tonne CFR Korea in the week ended 24 May, according to ICIS.

Separately, the company announced on 24 May its US June methanol contract at 160 cents/gal ($532/tonne).

The company had earlier posted its independent contract price for the second quarter valid until the end of June 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 = €0.77)

By: Heng Hui
+65 6780 4359

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