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.
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)
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