NewsFlashMethanex rolls N American contract

28 August 2008 17:27  [Source: ICIS news]

HOUSTON (ICIS news)--Global methanol producer Methanex on Thursday rolled its North American monthly contract nomination price for September at 158 cents/gal ($526/tonne,  €358/tonne).

The Vancouver-based company’s monthly contract price has not changed since May, when it was at 150 cents/gal.

Southern Chemical Company (SCC) was expected to nominate its contract price by the end of the week, according to sources.

Methanex’ rollover did not come as a surprise according to some market participants, but one trader said he expected a few cents higher based on higher spot levels.

Spot prices for methanol were at 145-150 cents/gal FOB US Gulf, according to ICIS pricing.

($1 = €0.68)

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ICIS Copyright © Reed Business Information 2009

Author: Steven McGinn
+1 713 525 2653

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