China’s Jiutai Energy to shut methanol unit on 1 March

25 February 2013 04:42  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Jiutai Energy Inner Mongolia will shut its 1m tonne/year coal-based methanol unit on 1 March for regular maintenance, a company official said on Monday.

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

The reduction in methanol supply in the domestic market may increase the spot prices in Inner Mongolia, a market player said.

Methanol spot prices in Inner Mongoli were assessed on 22 February at yuan (CNY) 2,180-2,200/tonne ($349-353/tonne), up by CNY150-180/tonne from CNY2,000-2,050/tonne on 16 February, according to Chemease, an ICIS service in China.

The methanol plant is located at Erdos in Inner Mongolia, north China.

China’s Jiutai Energy Inner Mongolia is a subsidiary of Jiutai Energy.

($1 = CNY 6.24)

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