European Spot Prices Break Above Contract Levels

Worldwide production problems and resilient demand have pushed methanol prices higher, market sources say. European spot prices broke above the contract level for the first time in almost half a year, with prices pegged at €220-€230/m.t. against the third-quarter contract price of €220/m.t. Meanwhile, North American spot prices were confirmed at 86 cts/gal fob early last week, though discussions had it reaching 88 cts/gal by CW press time. Spot prices were expected to draw even with Southern Chemical’s (Houston) August contract price of 91...

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