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(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.
mrcplast.com
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