18 July 2012 10:57 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Jiutai Energy Inner Mongolia is currently running its 1m tonne/year coal-based methanol unit at Erdos in northern China at full capacity following a turnaround, a company official said on Wednesday.
The plant was restarted on 17 July following maintenance lasting about 10 days, the official added.
The increase in methanol supply in the domestic market following the plant’s restart is expected to weigh on the spot prices in Inner Mongolia, according to a market player.
Spot methanol prices in Inner Mongolia were assessed at yuan (CNY) 2,250–2,270/tonne ($353–356/tonne) on 18 July, compared with CNY2,280–2,300/tonne on 13 July, according to Chemease, an ICIS service in China.
China’s Jiutai Energy Inner Mongolia is a subsidiary of producer Jiutai Energy.
($1 = CNY6.37)
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