Methanex Announced Its New Regional Contract Methanol Prices

Methanex, the world’s largest producer and supplier of methanol to major international markets, has announced its new regional contract methanol prices for North America and Asia Pacific regions.

For the North American region, the non-discounted reference price for June 1-20, 2014 would be US$ 1.60/Gal or $532/mt (converted to $/mt using a conversion rate of 332.6 Gal per mt), down from previous month’s price of $1.70/Gal or $565/mt, according to the company’s website.

Similarly, for the Asia-Pacific region, the Asian posted contract price would be $430/mt for the period from June 1-30, 2014, compared to the contract price of $460/mt in May 2014.

For Europe region, however, Methanex’s contract price for April 1-June 30, 2014 period would remain unchanged at €412/mt. The price for the second quarter of 2014 is lower than the previous quarter’s price of €450/mt, but slightly higher than the contract price of €408/mt in October-December 2013 quarter.

Methanol is an organic chemical that is used in the textile industry in manufacturing processes.

For the first quarter of 2014, Methanex reported Adjusted EBITDA of $255 million and Adjusted net income of $160 million ($1.65 per share on a diluted basis). These figures compare with Adjusted EBITDA of $245 million and Adjusted net income of $167 million ($1.72 per share on a diluted basis) for the fourth quarter of 2013.