Shanxi Yuanping to restart methanol unit early Oct

01 October 2008 08:22  [Source: ICIS news]

SINGAPORE (ICIS news)--Chinese methanol producer Shanxi Yuanping plans to restart its 200,000 tonne/year plant in early October, a source close to the company source said on Wednesday.

The unit, located in northern Shanxi province, was shut after an unscheduled plant outage in end-August, the source said.

It was originally scheduled to restart in early September but the maintenance took longer than expected, added the source.

Some traders said the restart was deliberately delayed as methanol sales in China were slow in September, and hence it would be unprofitable to resume, although it was denied by the company.

Chinese methanol prices were at $355-360/tonne CFR (cost and freight) China last Friday, according to global chemical market intelligence service ICIS pricing, while domestic prices were reported at yuan (CNY) 3,000-3,180/tonne ($439-465/tonne) ex-tank.

Other methanol producers in China include CNOOC Kingboard Chemical Limited and Yanzhou Coal Industry Yulin Energy Ltd.

($1 = CNY6.84)

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By: Heng Hui
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