Methanol continues to decline in China

15 January 2008 07:04  [Source: ICIS news]

SHANGHAI (ICIS news)--Methanol prices in China remain weak due to weak downstream demand, especially in northwest Shantong, east China, local traders said on Thursday.

Local producers slashed ex-works prices to yuan (CNY) 2,800-2,850/tonne ($386.2-393.1/tonne), down about CNY 100-150/tonne lower than last week, they said.

Ex-warehouse prices stood at CNY 2,800-2,830/tonne, CNY 120-150/tonne lower than last week, added the traders.

Prices have been declining since last weekend due to weak demand from downstream dimethyl ether (DME) sector, which uses methanol as feedstock.

Support from the formaldehyde market for methanol has also been limited in northwest of Shandong, traders said.

The price of DME was at CNY 4500/tonne ($620.7/tonne) ex-works on Tuesday, down CNY 100/tonne ($13.79/tonne) from last week in northeast of Shandong, traders added.

(1$=CNY 7.25)

By: Dolly Wu
+65 6780 4359

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