Vancouver-based methanol producer Methanex rolled over its US contract price at $1.60/gal ($532.80/mt) FOB US Gulf for June, it said Friday.
The rollover marks the second consecutive month that the company's CP has been posted at that level. June's net effective CP, after discounts and rebates that average 13%, would be $1.3920/gal FOB US Gulf.
The rollover was expected, as US spot prices have remained above $1.30/gal FOB USG since mid-February. Tight supply caused by several months of supply issues have supported the higher prices, sources said.
Thursday's Platts spot methanol assessment was $1.3950/gal FOB USG.
The market is still waiting for a June CP announcement from Southern Chemical Corp., which is expected to cut its price by 2-3 cents from the current $1.65/gal FOB US Gulf, sources said. The decrease would bring the price in line with Methanex.
Methanex is the largest producer of methanol in the world by capacity.
SCC is the US distributor of methanol produced by Methanol Holdings Trinidad Ltd.
