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Methanex announces methanol contract prices for Oct'14
Oct '14
Methanex, the world’s largest producer and supplier of methanol to major international markets, has announced its new regional contract methanol prices for Europe, North America and Asia Pacific regions.
For European region, Methanex posted contract price for October 1-December 31, 2014 will be €354/mt, compared to the contract price of €322/mt in the third quarter of this year.
For the North American region, Methanex has unaltered its non-discounted reference price for October 1-31, 2014 at US$ 1.45/Gal or $482/mt (converted to $/mt using a conversion rate of 332.6 Gal per mt) from the previous month’s price, according to the company’s website.
For the Asia-Pacific region, however, the company has increased its Asian posted contract price for October 1-31, 2014 to $435/mt, compared to September contract price of $420/mt.
Meanwhile, Methanex Corporation has successfully restarted its Punta Arenas, Chile-based Chile I methanol plant, which had been lying idle since May 2014 due to insufficient natural gas supply.
“The Chile I plant has been restarted, supported by gas supplies from both Chile and Argentina through a tolling arrangement,” the company said in a statement.
“There continues to be upstream activity in southern Chile, including the assessment of unconventional reserves in the region. We are focused on realizing full value from our remaining Chile assets, and remain optimistic that we can continue to operate in the region over the coming years,” the statement added.
Methanol, also known as methyl alcohol, is a clear liquid chemical that is water soluble and readily biodegradable. It is used to produce other chemical derivatives, which in turn are used to produce everyday products, including polyester, foams and resins. (RKS)

Fibre2fashion News Desk - India

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