- Minimal trading activity heard
- Market structure remains backwardated
US spot methanol prices continued to hold to previous-day values Aug. 13, with trading activity heard to be quiet on the week.
Front-month August spot methanol was assessed unchanged at 73 cents/gal FOB USG, with no new bids, offers or trades reported on Aug. 13. Second-month September spot methanol was also assessed unchanged at 72 cents/gal FOB USG, staying at a discount of 1 cent/gal to the front-month value.
Although ongoing production issues in Trinidad and Venezuela have served to boost the price of domestic spot methanol in recent weeks, prices could weaken some within the coming days if production returns to the market.
The locational price spread between Northwest Europe and the US Gulf Coast widened marginally day on day by 0.42 cent/gal at 5.45 cents/gal, indicating that exports from the Amsterdam-Rotterdam-Antwerp hub to the US are still mostly uneconomic despite lower prices in NWE.