Southern Chemical Corp. has nominated its January North American methanol posted contract price at 142 cents/gal FOB USG, the company said in a letter to customers Thursday.
The nomination marks a 20 cents/gal increase from the company's December contract price. The increase is in line with market expectations amid higher spot pricing in December, which saw the market jump 17 cents/gal since the beginning of the month to an assessment of 124 cents/gal FOB USG on Wednesday, according to S&P Global Platts data.
There was still no word Thursday on a January nomination from producer Methanex. The company's December contract price is 124 cents/gal.
SCC serves as the US distributor for Methanol Holdings Trinidad, the largest producer in the Americas at 4.1 million mt/year. Methanex ranks as the world's largest methanol producer by capacity.
