Methanex, the world’s largest producer and supplier of methanol to major international markets, has decreased its regional contract price for the Asia-Pacific and North American regions for December contracts.
For the Asia-Pacific region, Methanex has decreased its Asian posted contract price for December 1-31 to $415/mt, compared to the November contract price of $435/mt.
For the North American region, Methanex has decreased its non-discounted reference price for December 1-31 to US$ 1.43/Gal or $475/mt (converted to $/mt using a conversion rate of 332.6 Gal per mt) from November’s price of US$ 1.50/Gal or $499/mt.
For the European region, Methanex posted contract price for October 1-December 31, 2014 remains at the earlier announced price of €354/mt, compared to the contract price of €322/mt in the third quarter of this year.
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)