12 July 2012 04:11 [Source: ICIS news]
The move follows a traffic accident on 29 June, in which a truck and an oil tanker collided on a highway in the city, resulting in an explosion which killed 20 people and injured 31 others, they added.
Methanol freight rates rose by yuan (CNY) 20-30/tonne ($3-5/tonne), or 50%, from 29 June to CNY60-90/tonne in response to the tighter regulations on 3 July, a south China-based producer said.
However, methanol buyers did not accept the higher costs and this weighed on methanol spot prices, a trader said.
Methanol prices were at CNY2,700-2,730/tonne ex-tank south
($1 = CNY6.37)
Additional reporting by Sam Liang
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