October US spot methanol average highest in more than five years

Houston (Platts)--1 Nov 2013 437 pm EDT/2037 GMT

October's average US spot methanol price of $1.5229/gal FOB US Gulf was the highest monthly price since February 2008, when it was $1.7203/gal FOB US Gulf, according to Platts data.

The average spot price for October was 9.33 cents, or 6.5%, above the September average.

Spot prices have remained high since the beginning of the year, largely because of increasingly tight supplies due to feedstock curtailments in Trinidad, turnarounds, the Brazilian government's suspension of import duties on methanol for 180 days beginning October 4 and concern surrounding a globally tight supply situation, sources said.

Article continues below...

Request a free trial of: Asian Petrochemicalscan Asian Petrochemicalscan
Asian Petrochemicalscan

Asian Petrochemicalscan provides weekly market updates, commentary and assessments ranging from naphtha feedstocks to aromatics, olefins, and polymers in Southeast Asia, Korea, Taiwan and Japan.

Request a trial to Asian Petrochemicalscan Request More Information

The high spot prices seen through October led to Methanex and Southern Chemical to posting contract prices at the highest levels since March 2008, with Methanex at $1.80/gal FOB US Gulf and SCC at $1.74/gal FOB US Gulf.

Thursday's US methanol spot price was assessed at $1.5825/gal FOB US Gulf.

--Colleen Barry-Goodman, colleen.barrygoodman@platts.com
--Edited by Annie Siebert, ann.siebert@platts.com

版权所有 © 2019 S&P Global Platts,S&P Global 旗下公司。保留所有权利。