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.
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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
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