Methanex has posted its monthly US methanol contract price at 116 cents/gal FOB USG, the lowest level since November 2017.
The July posting, made public on the company website Wednesday morning, marks a 10 cent decline from 126 cents/gal for June.
Despite falling prices in the spot market Methanex's contract prices were fairly steady through the first of this year, with the posting at 130 cents/gal for four months of the six months.
Values in the spot methanol market have trended upwards over the course of June, rising nearly 4 cents since the beginning of the month.
S&P Global Platts assessed US spot methanol Tuesday at 87.25 cents/gal FOB USG for the front-month (June) and 86 cents/gal FOB USG for the forward-month (July).
