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

28 June 2013 04:08  [Source: ICIS news]

SINGAPORE (ICIS)--Methanex has rolled over its methanol Asian Posted Contract Price (APCP) of $450/tonne (€347/tonne) for the fourth straight month in July, the Canadian producer said on Friday.

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

Market participants in Korea said demand was stable.

Separately, the company announced on 27 June its US June methanol contract at 160 cents/gal ($532/tonne).

The company had posted its independent contract price for the third quarter at €390/tonne FOB (free on board) Rotterdam on 19 June.

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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