30 March 2010 07:04 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--Demand for methanol in the European market is expected to increase in the coming weeks as the construction industry picks up following an extremely cold winter, a producer source said on Monday.
“We are confident that April should see a pull from the construction sector…The winter has been very severe which has slowed the market down,” said the source on the sidelines of the 2010 International Petrochemical Conference (IPC).
While it was normal to see a seasonal pick-up at this time of year, it would likely be more exaggerated as the construction sector tried to make up for lost business during the extreme winter months, the source added.
Among the methanol markets, the formaldehyde sector has had the most reduced offtake in the first quarter but this may have just been caused by bad weather since the sector was performing reasonably well towards the end of 2009, the producer said.
Applications not related to the construction sector were performing well, according to producers and consumers.
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