US methanol spot inches up to June high, 122 cents/gal

Source: ICIS News


HOUSTON (ICIS)--US methanol spot barge prices continued to follow European values higher this week, inching up to 122 cents/gal, matching the three-month high set in June.

European methanol spot prices have been rising in recent weeks on tight supply because of turnarounds and less material coming from the Middle East.

In US spot activity, only a half dozen or so barges traded, most at 121-122 cents/gal for September delivery, with Southern Chemical (SCC) selling to Methanex on two of the trades.

Two barges for October delivery also moved at 120.5 and 121, though no names were disclosed.

Major US methanol producers include Methanex, SCC, OCI, Celanese/Mitsui and LyondellBasell.