Canada’s Methanex has set its October Asian Posted Contract Price (APCP) methanol APCP at USD 495/tonne. Methanol is mainly used in the production of formaldehyde, methyl tertiary butyl ether (MTBE) and acetic acid. As per report, North America October methanol contracts escalate by 3-4 cents/gal an average 148.5 cents/gal on postings by Methanex and Southern Chemical. Spot prices continue to maintain around a 20% discount from the contracts. Spot methanol for October delivery has been firm recently at 119 cents/gal, while there have been a number of trades at that level.
