China’s Xinneng Fenghuang Energy shut methanol plant on 5 May

07 May 2012 06:14  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shandong Xinneng Fenghuang Energy has shut its 360,000 tonne/year No 1 coal-based methanol plant in Shandong province on 5 May for maintenance, a company source said on Monday.

The unit will be shut for one week, the source said.

The company’s 360,000 tonnes/year No 2 plant is shut for maintenance since early April and no restart date has been set for the plant, the source added.

Despite the shutdown methanol prices are expected to maintain a downtrend because of the decreased formaldehyde demand, some traders said.

Methanol prices in Shandong were at yuan (CNY) 2,850-2,870/tonne ($452-455/tonne) EXW (ex-works) on 7 May, down by CNY20-50/tonne from 4 May, according to Chemease, an ICIS Service in China.

($1 = CNY6.31)

By: Rachel Qian

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