China’s Xinneng Energy shuts methanol unit for maintenance

17 December 2012 08:31  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Xinneng Energy shut its 600,000 tonne/year methanol unit at Dalad Qi in Inner Mongolia province on Monday for maintenance, a company official said.

The plant is expected to remain down for four to five days, the official said.

The consequent reduction in methanol supply in the domestic market may help stablise spot prices amid weak demand, a market player said.

Methanol spot prices in Inner Mongolia were at yuan (CNY) 2,100-2,120/tonne ($336-339/tonne) on Monday, unchanged from 14 December levels, according to Chemease, an ICIS service in China.

Xinneng Energy is a subsidiary of ENN Group.

($1 = CNY 6.25)

By: Mindy Liu

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