Methanex, the world's largest producer and supplier of methanol to major international markets, has posted new regional contract methanol prices for North America, and Asia-Pacific regions, on its website.

For the Asia-Pacific region, the Asian posted contract price for August 1-31 will be US$ 360/mt, down from July price of $375/mt.

For the North American region, Methanex has announced its non-discounted reference price for August 1-31 at $1.25/Gal or $416/mt, compared to previous month's price of $1.33/Gal or $442/mt (converted to $/mt using a conversion rate of 332.6 Gal per mt).

For the European region, Methanex kept its posted contract price for July 1-September 30 quarter at €365/mt, unchanged from the previous quarter.

Methanol, also known as methyl alcohol, is a clear liquid chemical that is water soluble and readily biodegradable. It is used to produce other chemical derivatives, which in turn are used to produce everyday products, including polyester, foams and resins.