US September methanol rises slightly, ends five-month plunge
Lane Kelley
29-Aug-2014
HOUSTON (ICIS)–US
September methanol contracts rose slightly as the wait for
monthly postings finished on Friday, ending five straight
months of declines.
Methanex rolled its August monthly posting at 145 cents/gal, but the edge up in the average September price – now 142.5 cents/gal – came from the move earlier in the week by Southern Chemical Corp (SCC) raising its new posting to 140 cents/gal.
Monthly contracts dropped in April through August because of a surge in US imports earlier this year.
Methanol watchers this week said they expected September contracts to roll over or increase slightly because of rising spot barge prices, which have inched up to 119-120 cents/gal on tighter supply in Trinidad.
Methanex and SCC historically have set the monthly contract range with their postings. Other major US methanol suppliers include LyondellBasell and OCI.
US methanol posted monthly prices, in cents/gal
|
Month |
Methanex |
SCC |
|
Jan 2014 |
190 |
188 |
|
Feb 2014 |
190 |
188 |
|
Mar 2014 |
190 |
191 |
|
April 2014 |
180 |
180 |
|
May 2014 |
170 |
170 |
|
June 2014 |
160 |
150 |
|
July 2014 |
145 |
140 |
|
Aug 2014 |
145 |
137 |
|
Sept 2014 |
145 |
140 |
Sources: Methanex, SCC
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