Methanex sets a new production record
Canadian Methanex raised its methanol production by 33.8% in a year-on-year comparison to 1.859m tonnes in the final three months of 2016. This figure was higher than both the third quarter’s sum of 1.749m tonnes and the current record set in the second quarter (1.770m tonnes). Total sales, which include the amounts purchased from other sources and commission sales, rose 15.3% to 2.521m tonnes.
Methanex recorded an average price of USD278 per tonne, the same as twelve months earlier. This figure was 17.8% higher than the third quarter’s average of USD236/t. Fourth-quarter revenues improved 14.4% to USD635m, while adjusted EBITDA surged 73.8% to USD139m.