Initial Europe Q4 methanol settles up €18/t at €408/tonne

25 September 2013 12:02  [Source: ICIS news]

LONDON (ICIS)--An initial agreement between a producer and a consumer has been reached for the European fourth-quarter methanol contract price at €408/tonne ($551/tonne), up €18/tonne, market sources said on Wednesday.

The consumer involved confirmed the agreement, but the producer could not immediately be reached. A second producer was also said to have agreed to the price, but this could not be immediately confirmed.

However, widespread acceptance remains pending. Another producer said: “it’s too low…for the time being we’re not following. €410-420/tonne would be reasonable.”

The European contract price for methanol is settled on a free on board (FOB) Rotterdam basis.

($1 = €0.74)

By: Ross Yeo
+44 208 652 3214

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