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Methanex Lowers August Methanol Contract Prices Across Asia, TPH Says

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Methanex (MEOH) lowered its Asia Pacific August methanol contract price to $550 per metric ton from $620/mt in July as weaker spot prices weighed on the market, according to TPH Energy Research in a Tuesday note.

TPH said Asia Pacific spot methanol prices have fallen about $122/mt over the month, driving the contract price lower from $740/mt in Q2. The decline largely matched market expectations.

The firm said Asia Pacific spot prices rebounded about $30/mt last week as oil prices strengthened during the renewed US-Iran conflict. Spot prices also remain well above the 2021 to 2025 average of $415/mt.

Methanex also rolled over its August China methanol contract at $525/mt, compared with $603/mt in Q2. TPH said China spot methanol prices have declined about $53/mt over the month.

North American August contract prices remain pending, while US spot methanol prices have fallen about $61/mt over the month. Even so, US spot methanol margins continue to hold at fresh five-year highs.

The firm estimated North American contract prices could decline about $70/mt in August, bringing its projected global average contract price to about $940/mt in Q2 from $975/mt in Q2.

Price: $53.51, Change: $-0.67, Percent Change: -1.24%

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