Market participants seemed to be in agreement regarding an imminent increase in the US October methanol contract price, although opinions about the amount of the increase varied.
On the lower end, expected increases were hovering near 10 cents/gallon while on the high end while the highest expectations were as high as 25 cents/gallon. Most sources anticipated the increase to range between 12 and 15 cents/gallon, depending on where the spot market moves and indications regarding the European Q4 contract settlement.
Spot methanol values have been talked at or above 125 cents/gallon after a deal for 10,000 barrels transacted September 13.
Notional values were talked in a wide range Thursday morning with buy ideas at 125 cents/gallon FOB USG against sell ideas talked at 135 cents/gallon FOB USG.
On the lower end, expected increases were hovering near 10 cents/gallon while on the high end while the highest expectations were as high as 25 cents/gallon. Most sources anticipated the increase to range between 12 and 15 cents/gallon, depending on where the spot market moves and indications regarding the European Q4 contract settlement.
Spot methanol values have been talked at or above 125 cents/gallon after a deal for 10,000 barrels transacted September 13.
Notional values were talked in a wide range Thursday morning with buy ideas at 125 cents/gallon FOB USG against sell ideas talked at 135 cents/gallon FOB USG.
