Reviving downstream fuel industry can surge the price of Methanol in USA
In United States, the price of Methanol surged to $615/ton EXW Louisiana with the inclination of 0.5% compared with the previous week where prices were observed to $612/ton EXW Louisiana. In the upcoming weeks, the prices of Methanol in USA may burst with the increment of 5%-7% and will likely to hover around $620/ton-$625/ton. Feedstock Natural Gas prices in USA had surged by nearly 12% when observed on 12 January bringing the prices to record high in this month. February future contract on the New York Mercantile Exchange (NYMEX) reached nearly $4.75 per MMBtu where price rally up to be strongest since gas future debuted more than 30 years ago. Downstream Methanol fuel applications had started to grow and according to EIA biodiesel Production is expected to grow by 22pc till the end of 2022. Methanol consumption in automobile industry is also spotted to be on the higher side. US Methanol two largest marketers Methanex and Southern Chemical sales revenue increase with increase in the...