China’s Shenhua Shenmu shuts No 2 methanol unit in Shaanxi

24 April 2012 09:45  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shenhua Shenmu Chemical shut its 400,000 tonne/year No 2 methanol unit in Shaanxi province on 23 April for about 20 days of maintenance, a company official said on Tuesday.

Its No 1 methanol plant at the same site, with a 200,000 tonne/year capacity, is currently running at full capacity, the source said.

Spot methanol prices in Shaanxi province may increase given the reduction in domestic supply from the shutdown of Shenhua Shenmu’s bigger plant, a market player said.

Methanol spot prices of Shaanxi are at yuan (CNY) 2,550-2,600/tonne ($404-412/tonne) on Tuesday, compared with CNY2,500-2,550/tonne on 23 April, according to Chemease, an ICIS service in China.

Shenhua Shenmu Chemical is a holding company owned by China Shenhua Coal to Liquid and Chemical Co.

($1 = CNY 6.31)

By: Mindy Liu

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