Canadian producer Methanex will hold its April North American methanol posted contract price at 149 cents/gal ($496/mt) FOB USG, the company said on its website.
The unchanged contract price is in line with market expectations after Methanex last Wednesday held its European Q2 contract price flat from the first quarter at Eur380/mt (about $466/mt), while the more widely used European contract price for Q2 was also settled unchanged at the same price.
Market sources said this, along with current healthy market dynamics and strong pricing on the Gulf Coast, would support flat April contract posts from US producers.
Market participants now await an April contract announcement from Southern Chemical Corp.
Methanex ranks as the world's largest methanol producer by capacity. SCC is the US distributor for Methanol Holdings Trinidad, the largest producer in the Americas at 4.1 million mt/year.
US spot methanol prices were assessed Tuesday at 118.75-119.25 cents/gal FOB USG for April and May.
