26 April 2013 04:13 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shandong Xinneng Fenghuang Energy will restart its 360,000 tonne/year No 1 coal-based methanol plant in Shandong province on 2 May after completing its maintenance, a company source said on Friday.
The plant was taken off line on 17 April, the source said.
The company runs another 360,000 tonne/year No 2 plant in Shandong as well, which is also under going maintenance at present. The unit, taken off line on 17 April, will be restarted in mid-May, the source added.
Methanol prices in Shandong are expected to fall because of the increase in supply resulting from the restarts, as demand from the downstream formaldehyde and dimethyl ether (DME) demand is weak, said market participants.
Methanol prices in Shandong were at yuan (CNY) 2,450-2,470/tonne ($397-400/tonne) EXW (ex-works) on 26 April, down by CNY30-40/tonne from 19 April, according to Chemease, an ICIS service in China.
($1 = CNY6.17)
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