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The market can expect a rollover in the US June methanol contract

May 20/2011

(ICIS) -- The market can expect a rollover in the US June methanol contract unless crude prices drop significantly, buyers said on Thursday. The monthly contract range has been perched at 126-128 cents/gal for the past four months as energy prices have seesawed. Front-month natural gas futures have declined about 6% since early February, while crude futures have increased 7%.


Months of listless trading in the spot market have cooled the arguments of sources who often push for contract reductions based on energy prices. One buyer said a rollover was just a better bet right now.


Spot prices currently range from 107-108 cents/gal.


Methanex and Southern Chemical Company (SCC) historically have set the monthly North American contract methanol range with their nominations.


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