11 October 2010 04:59 [Source: ICIS news]
SINGAPORE (ICIS)--Xinjiang Tuha Oilfield’s 240,000 tonne/year methanol unit in China's western province of Xinjiang is running at a reduced rate of 500 tonne/day, amid product prices being just around the break even level, a company source said on Monday.
Chinese methanol was heard at around $290-295//tonne (€206-209/tonne) CFR (cost and freight) China on Friday, up $5/tonne from the previous week on tight supplies, according to ICIS.
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China has an annual demand for methanol of around 12m tonnes/year.
($1 = €0.71)
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