US spot methanol prices gained 4.5 cents/gal Tuesday, reaching a one-year high at 87.50 cents/gal US Gulf Coast, based on S&P Global Platts data.
Spot pricing was last seen higher on October 26, 2015, when priced by Platts at 88 cents/gal FOB USG.
A couple of participants attributed gains to tight supply and prior gains in global movement, however there was uncertainty amongst other participants behind gains.
Market talks were heard in the 87-90 cents/gal range prior to the Platts Market on Close assessment process. No trades were heard Tuesday and prior trading levels were within the 82-84 cents/gal range, sources had said Monday.
