07 May 2013 04:40 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shandong Yankuang shut its 500,000 tonne/year methanol unit on 5 May for maintenance that will last 20-25 days, a company source said on Tuesday.
The shutdown of the unit will reduce methanol supply in the southern Shandong area by 1,500 tonnes/day, a market player said.
Domestic methanol prices in Shandong are expected to rise on the back of the decreased supply in the market, market participants said.
Methanol prices in Shandong were at yuan (CNY) 2,510-2,560/tonne ($407-415/tonne) EXW (ex-works) on Tuesday, up by CNY10/tonne from 6 May, according to Chemease, an ICIS service in China.
($1 = CNY6.17)
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