14 May 2013 10:38 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shandong Xinneng Fenghuang Energy will restart its 360,000 tonne/year No 2 coal-based methanol plant in Shandong province on 15 May after completing maintenance at the unit, a company source said on Tuesday.
The plant was taken off line on 17 April, according to the source.
The company‘s No 1 methanol unit, which has the same 360,000 tonne/year capacity, at the site is currently running at 100%, the source said.
The restart of the Xinneng Fenghuang’s No 2 plant may weigh on methanol prices in Shandong, as supply will increase while demand for downstream formaldehyde and dimethyl ether (DME) is still weak, market participants said.
Methanol prices in Shandong were at yuan (CNY) 2,430-2,510/tonne ($395-408/tonne) EXW (ex-works) on 14 May, unchanged from the previous day, according to Chemease, an ICIS service in China.
($1 = CNY6.15)
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