29 November 2012 06:19 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shaanxi Xianyang Chemical Industrial is planning to restart its 600,000 tonne/year methanol unit at Xianyang in Shaanxi province in the first half of December, a company official said on Thursday.
The methanol unit was shut on 22 August because of issues with the air separation facility, the sourced added.
The increase in supply of methanol in the domestic market following the plant’s restart is expected to reduce the spot prices in Shaanxi amid the weak demand, a market player said.
Methanol spot prices in Shaanxi are at yuan (CNY) 2,060-2,350/tonne ($331-378/tonne) on 29 November, down by CNY90-100/tonne compared with CNY2,150-2,450/tonne on 26 November, according to Chemease, an ICIS service in China.
Shaanxi Xianyang Chemical is owned by China Shenhua Coal to Liquid and Chemical Co.
($1 = CNY6.22)
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