US November methanol rises avg 15 cents/gal on SCC posting

28 October 2013 17:29  [Source: ICIS news]

HOUSTON (ICIS)--US November methanol reached a five-year high on Monday with Southern Chemical Corp’s (SCC) posting of 174 cents/gal.

SCC’s number stayed under Methanex’s posting of 180 cents/gal last week. The two companies’ postings historically have set the monthly contract range.

Their announcements put the average price for November at 177 cents/gal, an increase of 15 cents/gal over the October contract average of 162 cents/gal. US methanol contract prices have not reached this level since early 2008.

The moves confirmed expectations of methanol market watchers last week who expected a large jump in November based on a big bounce in spot prices. US methanol spot barge prices on Monday remained at 157-158 cents/gal.

($1 = €0.72)

By: Lane Kelley
+1 713 525 2653

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