China’s Xinneng Fenghuang to start methanol sales from 2 July

29 June 2012 09:11  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Xinneng Fenghuang Energy plans to start methanol sales from 2 July following the restart of its 360,000 tonne/year No 2 methanol plant at Tengzhou in Shandong province on 25 June, a company source said on Friday.

The plant was shut for maintenance on 5 April, according to the source.

In addition, the company will restart its 360,000 tonne/year No 1 plant in Shandong on 30 June after shutting it on 18 June for maintenance, the source added.

Methanol prices in Shandong are expected to fall because of the increase in supply resulting from the restart, as demand from the downstream formaldehyde and dimethyl ether (DME) demand is weak, said market participants.

Methanol prices in Shandong were at yuan (CNY) 2,550-2,600/tonne ($401-409/tonne) EXW (ex-works) on 29 June, down by CNY30/tonne from 21 June, according to Chemease, an ICIS service in China.

($1 = CNY6.35)

By: Rachel Qian

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