Methanol prices are once again climbing. Currently, they are higher than they have been in almost a year. The graph below shows the Methanex non-discounted price (USD), pegging the current price at $416/MT. It has not been at this price since August 2015.
According to PLATTS, the US spot price also climbed to their highest level in nearly a year. They noted that production of methanol and demand have also increased over time for methanol, contributing to the surging price.
Consistent prices were experienced in the US due to considerable shortfall in methanol production in Trinidad due to difficulties in accessing natural gas.
Trinidad and Tobago produced 46.5 million tonnes of methanol in 2016, an 18% slide in production from 2015 and the lowest produced since 2005. The curtailment of natural gas availability has continued to cause production shortfalls not only in methanol but for the large ammonia and LNG producers in the country as well.