Methanex Corp., the world’s largest producer and supplier of methanol, lowered its Asian contract price (ACP) for July by $10 month-on-month (MoM) to $410 per ton.
| Month | Value (Dollar\Ton) | Change |
|---|---|---|
| 2024 January | 380.00 | 0.00 |
| 2024 February | 390.00 | 10.00 |
| 2024 March | 400.00 | 10.00 |
| 2024 April | 400.00 | 0.00 |
| 2024 May | 400.00 | 0.00 |
| 2024 June | 420.00 | 20.00 |
| 2024 July | 410.00 | (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 $290 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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