AI Summary
Methanex Corp., the world’s largest producer and supplier of methanol, cut its Asian contract price (ACP) for May by $10 month-on-month (MoM) to $395 per ton.
May 2023 prices are considered the lowest in nearly two and half years, or since December 2020.
| Month | Value (Dollar\Ton) | Change |
|---|---|---|
| 2023 January | 410.00 | 0.00 |
| 2023 February | 430.00 | 20.00 |
| 2023 March | 430.00 | 0.00 |
| 2023 April | 405.00 | (25.00) |
| 2023 May | 395.00 | (10.00) |
The monthly prices set by Methanex are a benchmark for other producers and spot markets.
The company gives a 15% discount on average to buyers.
The spot price in China, the world’s biggest importer of methanol, reached $300 per ton, according to the latest data compiled by Argaam.
| Production Company | Company Status | Production Capacity (Thousand tons) | Usage |
|---|---|---|---|
| Methanol Chemicals Co. | Listed | 231.00 | Feedstock |
| International Methanol Company | Unlisted | 1,300.00 | Final Product |
| Saudi Methanol Company | Unlisted | 4,800.00 | Final Product |
| National Methanol Company | Unlisted | 1,050.00 | Feedstock |
| Gulf Petrochemical Industries Co | Unlisted | 450.00 | Final Product |
| Total | 7,831.00 | ||
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