Methanex will cut its July North American methanol posted contract price by 3 cents to 113 cents/gal ($376/mt) FOB USG, the company said on its website Wednesday.
Sources expected July methanol contracts to be slightly lower or a rollover from June.
SCC also said it will cut its North American methanol posted contract price by 3 cents in July to 108 cents/gal FOB USG, according to a notice seen by S&P Global Platts on Wednesday.
With discounts and rebates averaging 15%, the net contract price for June comes to 91.80-96.05 cents/gal.
Methanex ranks as the world's largest methanol producer by capacity. SCC serves as the US distributor for Methanol Holdings Trinidad, the largest producer in the Americas at 4.1 million mt/year.
US spot methanol has fallen 3.3% since the June contract prices were announced on May 26, according to Platts data.
US spot methanol was assessed Wednesday at 86.75-87.25 cents/gal FOB USG for June and July.
