North American posted methanol contract prices for August will roll over from July pricing, market sources predicted on Wednesday.
Those expecting flat pricing based the outlook on the thin market activity and slowed movement in spot pricing over the last month, sources said.
US spot methanol was assessed Wednesday at 89.75-90.25 cents/gal FOB USG cents/gal FOB USG for July and 88.25-88.75 cents/gal FOB USG for August.
Announcements for monthly posted contract prices typically come out in the final business days of the preceding month.
Spot pricing has increased 3 cents/gal since the final announcement for July posted contract prices on June 28, Platts data showed.
Methanex placed its July posted price at 113 cents/gal (376/mt) FOB USG, and SCC set its July posted price at 108 cents/gal (360/mt) FOB USG.
With discounts and rebates averaging 15%, the net contract price for July came to 91.80-96.05 cents/gal.
Recent spot pricing has been talked to be at a 20% discount to the CPs, a source said.
