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NEW YORK ( TheStreet) -- Methanex Corporation (Nasdaq: MEOH) hit a new 52-week high Tuesday as it is currently trading at $32.30, above its previous 52-week high of $32.17 with 6,400 shares traded as of 9:40 a.m. ET. Average volume has been 400,400 shares over the past 30 days. Methanex has a market cap of $3 billion and is part of the basic materials sector and chemicals industry. Shares are up 4.9% year to date as of the close of trading on Monday. Methanex Corporation produces, markets, and supplies methanol that is used to make a range of industrial, consumer, and energy products. It also sources methanol produced by others. The company has a P/E ratio of 29.3, equal to the average chemicals industry P/E ratio and above the S&P 500 P/E ratio of 16.5.