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Traders foxed by hike in methanol spot prices

24
Jul '10
US Gulf methanol spot prices have been rising without any main fundamental reason, which is leaving the buyers and sellers of the raw material, confused.

In the previous week there was a build up in prices, but towards the end of that week, market participants were expecting that prices would cool down Monday onwards.

But that was not to be. Buyers and sellers have conducted trades at between 91-93.5 cents per gallon in the current week, just the opposite of what was expected.

Expectations that prices would fall below or around 80 cents per gallon were built on the assumptions of regional as well as global oversupplies of methanol.

However, plant closures announced in Southeast Asia at a Malaysian and Indonesian plant helped prices of the raw material to spike.

Fibre2fashion News Desk - India


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