China’s Zhonghao delays shutdown of Golmud methanol unit to 15 Sept

12 September 2012 10:33  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Qinghai Zhonghao Natural Gas Chemical has delayed the annual maintenance of its 600,000 tonne/year methanol unit at Golmud in Qinghai province in northwest China to 15 September from 5 September, a company official said on Wednesday.

The company will keep the plant shut for one month, he added.

The official, however, did not specify reasons for the delay of the annual maintenance.

The expectation of a reduction in methanol supply in the domestic market has led to the increase in spot prices in Qinghai province, a market player said.

Methanol spot prices in Qinghai were assessed at yuan (CNY) 2,130-2,200/tonne ($336-347/tonne) on 12 September, up by CNY50/tonne at the high end of the range compared with CNY2,130-2,150/tonne on 11 September, according to Chemease, an ICIS service in China.

($1 = CNY 6.34)

By: Mindy Liu

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