30 August 2013 04:06 [Source: ICIS news]
SINGAPORE (ICIS)--Methanex has nominated its methanol Asian Posted Contract Price (APCP) for September at $470/tonne (€357/tonne), a $20 increase and the first hike in seven months, the Canadian producer said in an email to ICIS and customers on Friday.
Methanex uses its APCP on a CFR (cost-and-freight) Asia basis as a benchmark for its contracts in South Korea and Japan, with discounts.
The APCP had remained constant at $450/tonne CFR Asia for 6 months from March to August.
Market participants in Korea said there was thin trading activity but similarly tight spot supply.
Methanex rolled its US monthly contract price on Thursday, posting 160 cents/gal ($532/tonne) for September for the fifth straight month.
The company has settled its independent European Posted Contract Price (MEPCP) for the third quarter, valid until end September, at €390/tonne ($513/tonne) FOB (free on board) on 19 June.
($1 = €0.76)
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