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COPYRIGHT 2005 Hart Energy Publishing, LP.
After a nearly year-long period of snug supplies and steady prices around the 90 c/gal mark, spot methanol prices on the U.S. Gulf Coast fell to around 83 c/gal in May due to soft domestic summer demand and abundant supplies, market sources said. The spot market has been short of bids, as consumers were reportedly being challenged to use up contract minimum takes due to lower summer operating rates. At the same time, a number of methanol shipments from abroad arrived in late-May making methanol spot supplies plentiful. As a result, spot prices fell and were expected to continue to move down to around the 80 c/gal level, industry sources told GTLN. However, May barge contract prices were set at around the 95-98...
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