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MEGlobal confirms will lower its US contract price 5 cts/lb to 38 cts/lb and drop its US DEG price 3 cts/lb to 50 cts/lb effective August 1st.

Southern Chemical Company (SCC) confirms it will roll over its North American Posted Price of $1.77/gal effective August 1st.

Traders report prompt barges FOB USG bid at $1.16/gal leading to more conjecture about rising spot distribution offers in the region.

Methanex confirmed rolling its US posted price of $1.82/gal and also lowering its Western Canadian Distributor Price (WCDP) CAN $10/mt to $775/mt effective August 1st. The company will also lower its Asian Posted Contract Price $30/mt to $420/mt effective August 1st.

Spot barge prices FOB USG surged this week amid reports of regional production issues. Sources report deals on Tuesday as high as $1.10/gal and at least one today concluded for $1.13/gal.

Several customers claim Formosa restarted its 800,000 mt/yr MEG unit at Point Comfort following initial reports the plant would remain down for perhaps “months”. Some claim the 800,000 mt/yr unit along with its 300,000 mt/yr unit are running but operating at a reduced rate (unconfirmed by company but reported by customers between 60 and 70% of nameplate). Whereas several customers initially indicated their volumes in August would be cut they now claim supply will remain at 100%.

MEGlobal confirms that it will lower its MEG Asian Contract Price (ACP) $90/mt to $820/mt effective August 1st.

Several customers report Formosa will shut down its 800,000 mt/yr MEG Unit 2 at Point Comfort next week and monthly allotments for August are reduced. The plant could be down two to three months according to customers.

Several customers report Formosa will shut down its 800,000 mt/yr Unit 2 at Point Comfort next week and monthly allotments for August are reduced. The plant could be down two to three months according to customers.

Southern Chemical Corp. (SCC) confirms dropping its US posted price 3 cts/gal to $1.77/gal effective July 1st.