13 March 2014 18:31 [Source: ICIS news]
HOUSTON (ICIS)--US methanol imports from Malaysia have pulled spot prices down slightly this week, sources said on Thursday.
Sources estimated the spot barge range at 162-163 cents/gal, down by 1 cent/gal from last week's close. One trader said there is little if any buying going on.
"I think people are just sitting on their hands a little bit," the trader said. "These imports have kind of stifled any interest in buying."
Two shipments of 17,000 tonnes each are loading this month from Labuan in Malaysia on the "MTM Princess" and "Bochem Chennai", chartered by Kolmar and Integra, according to brokers.
Another cargo of 25,000 tonnes is coming from Malaysia on the "Chemroad Mega", according to another broker.
US methanol spot barge prices hit a five-year high in early December at 169 cents/gal and almost reached that point, hitting 168.5 cents/lb earlier this month, before warmer weather and the shipments from Malaysia began to pull prices down.
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